Ghana’s economic growth is expected to rise to around 7% this year from 6.3% in 2018, boosted by its extractive industries, the International Monetary Fund said on Thursday.
The Fund said in a statement at the end of a staff visit that Ghana, which exports oil, gold and cocoa, had maintained macroeconomic stability since the conclusion of a three-year lending program with the IMF in March.
The IMF in April this year projected an 8.8 percent growth rate for Ghana.
Despite this downward review, this would still be the highest expected growth rate for Ghana by IMF since 2017, when the FUND then projected an 8.1 percent GDP growth.
The 188-page report put together by the research department of the IMF looks at the global economy, opportunities, threats as well as reviewing the economics 189 members of the Fund.