{"id":238820,"date":"2024-10-25T07:28:04","date_gmt":"2024-10-25T07:28:04","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/25\/imf-projects-3-end-of-year-growth-rate-for-ghana\/"},"modified":"2024-10-25T07:28:04","modified_gmt":"2024-10-25T07:28:04","slug":"imf-projects-3-end-of-year-growth-rate-for-ghana","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/25\/imf-projects-3-end-of-year-growth-rate-for-ghana\/","title":{"rendered":"IMF projects 3% end of year growth rate for Ghana"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>The Interna\u00adtional Monetary Fund forecasts that Ghana will conclude the year 2024 with a growth rate of 3 per cent, as stated in the World Economic Outlook Report published in Washington, D.C., on Tuesday.<\/strong><\/p>\n<p><strong>Published during the meet\u00adings of the IMF and World Bank, it aligns with the gov\u00adernment\u2019s forecast of a 3.1 per cent GDP growth rate as stated in the 2024 Budget.<\/strong><\/p>\n<p><strong>However, some IMF offi\u00adcials have indicated to JoyBusi\u00adness that these growth figures may be revised before the year\u2019s end, as the World Economic Outlook did not fully account for recent economic developments.<\/strong><\/p>\n<p><strong>A senior IMF official stated that, \u201cWe are optimistic that Ghana will perform better in terms of growth by the end of the year than we previously estimated.\u201d<\/strong><\/p>\n<p><strong>The World Bank, in its Africa Pulse Report released earlier this month, projected that Ghana\u2019s growth rate could reach 4 per cent by the end of 2024.<\/strong><\/p>\n<p><strong>This is attributed to a surge in economic activity during the last two quarters of the year.<\/strong><\/p>\n<p><strong>Initially, the World Bank had forecasted a 3.1 per cent growth rate for Ghana in 2024, but recent developments have led the Bank to revise its outlook.<\/strong><\/p>\n<p><strong>The IMF, in the same report, projected an end-of-year inflation rate of 19.5 per cent for Ghana. This is significantly higher than the Bank of Ghana\u2019s target range of 13-17 per cent.<\/strong><\/p>\n<p><strong>However, the IMF also predicts that inflation could drop to 11.5 per cent by the end of 2025, indicating progress towards achieving single-digit inflation.<\/strong><\/p>\n<p><strong>The World Bank\u2019s Africa Pulse Report similarly expects inflation to reach 11.5 per cent by the end of 2025<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Interna\u00adtional Monetary Fund forecasts that Ghana will conclude the year 2024 with a growth rate of 3 per cent, as stated in the World Economic Outlook Report published in Washington, D.C., on Tuesday. Published during the meet\u00adings of the IMF and World Bank, it aligns with the gov\u00adernment\u2019s forecast of a 3.1 per cent [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":238821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-238820","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IMF projects 3% end of year growth rate for Ghana - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/10\/25\/imf-projects-3-end-of-year-growth-rate-for-ghana\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF projects 3% end of year growth rate for Ghana - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Interna\u00adtional Monetary Fund forecasts that Ghana will conclude the year 2024 with a growth rate of 3 per cent, as stated in the World Economic Outlook Report published in Washington, D.C., on Tuesday. 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