{"id":241543,"date":"2024-10-29T17:05:21","date_gmt":"2024-10-29T17:05:21","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/29\/isser-projects-ghanas-2024-growth-rate-to-hit-4-5-percent\/"},"modified":"2024-10-29T17:05:21","modified_gmt":"2024-10-29T17:05:21","slug":"isser-projects-ghanas-2024-growth-rate-to-hit-4-5-percent","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/29\/isser-projects-ghanas-2024-growth-rate-to-hit-4-5-percent\/","title":{"rendered":"ISSER projects Ghana\u2019s 2024 growth rate to hit 4.5 percent"},"content":{"rendered":"<p><\/p>\n<div data-td-block-uid=\"tdi_42\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p>The Institute of Statistical Social and Economic Research (ISSER) has projected Ghana\u2019s economic growth rate to reach 4.5 percent by the end of 2024, surpassing the International Monetary Fund\u2019s (IMF) recent upward revision from 3 percent to 4 percent.<\/p>\n<p>During the launch of the State of the Ghanaian Economy Report and the third-quarter economic performance review, ISSER\u2019s Director, Prof. Peter Quartey, expressed optimism about Ghana\u2019s economic trajectory, anticipating growth beyond 4 percent.<\/p>\n<p>He emphasized the need for prudent expenditure management, particularly in procurement and compensation, by leveraging digital payroll systems.<\/p>\n<p>\u201cOur growth outlook remains promising. The IMF has projected 4 percent growth, but I believe we can achieve 4.5 percent,\u201d Prof. Quartey stated.<\/p>\n<p>He highlighted the importance of prioritizing investment in agriculture and industry, sectors with high labor demand and job-creation potential.<\/p>\n<p>\u201cWe need to focus on agriculture and industry because they can generate significant employment,\u201d he noted, adding that it is crucial to monitor debt levels to prevent excessive government spending.<\/p>\n<p>He proposed a review of the fiscal responsibility law to set a debt ceiling, ensuring that both deficit and debt remain within sustainable limits.<\/p>\n<p>With this new projection, ISSER remains optimistic about Ghana\u2019s economic prospects, recommending that the government strengthen revenue collection through digitalization.<\/p>\n<p>The report also urged the government to boost agricultural investment to curb rising food inflation.<\/p>\n<p>\u201cReducing inflation and exchange rate depreciation will lower the cost of living. Food inflation remains high, and PFJ 2.0 should focus on supporting the value chain.\u201d<\/p>\n<p>\u00a0<\/p>\n<p><strong>READ ALSO:<\/strong><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Institute of Statistical Social and Economic Research (ISSER) has projected Ghana\u2019s economic growth rate to reach 4.5 percent by the end of 2024, surpassing the International Monetary Fund\u2019s (IMF) recent upward revision from 3 percent to 4 percent. During the launch of the State of the Ghanaian Economy Report and the third-quarter economic performance [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":241544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-241543","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ISSER projects Ghana\u2019s 2024 growth rate to hit 4.5 percent - 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\/29\/isser-projects-ghanas-2024-growth-rate-to-hit-4-5-percent\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ISSER projects Ghana\u2019s 2024 growth rate to hit 4.5 percent - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Institute of Statistical Social and Economic Research (ISSER) has projected Ghana\u2019s economic growth rate to reach 4.5 percent by the end of 2024, surpassing the International Monetary Fund\u2019s (IMF) recent upward revision from 3 percent to 4 percent. 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