The International Monetary Fund (IMF) has projected that Ghana’s Gross Domestic Product (GDP) growth will gradually increase to its potential level of about 5.0% beyond 2024. <\/p>\n This forecast aligns with predictions from various international research institutions.<\/p>\n According to the IMF’s Country Report on Ghana, the macroeconomic outlook remains positive despite challenges from ongoing fiscal consolidation and a prolonged dry spell. <\/p>\n The strong performance of real GDP growth in the second quarter of 2024 has led the IMF to revise its growth projection for the year upward to 4.0%, from the previous estimate of 3.1% during the second Economic Credit Facility (ECF) review.<\/p>\n \u201cContinued tight monetary policy will bring inflation back to the Bank of Ghana\u2019s target band (8\u00b12 percent) by end-2025,\u201d the Fund said.<\/p>\n This increase is primarily due to price pressures from a weaker cedi and the dry spell. <\/p>\n The Fund expects that continued tight monetary policy will bring inflation back to the Bank of Ghana’s target band of 8\u00b12 percent by the end of 2025.<\/p>\n Further progress in fiscal consolidation and the completion of debt restructuring are expected to ensure that Ghana’s public debt remains on a sustainable path. <\/p>\n The current account deficit is projected to stay balanced until 2026, with international reserves reaching three months of import coverage.<\/p>\n ID\/AE<\/p>\n Watch the compilation of the latest Twi news below:<\/b><\/p>\n![\"This](\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/717\/71793247.295.jpg\" "\\"This")
This outlook remains positive despite challenges from ongoing fiscal consolidation<\/span><\/span><\/p>\n<\/div>\n