{"id":305,"date":"2024-10-23T13:12:37","date_gmt":"2024-10-23T13:12:37","guid":{"rendered":"https:\/\/winsmediagh.com\/?p=305"},"modified":"2024-10-23T13:12:39","modified_gmt":"2024-10-23T13:12:39","slug":"imf-predicts-3-economic-growth-for-ghana-by-end-of-2024","status":"publish","type":"post","link":"https:\/\/winsmediagh.com\/?p=305","title":{"rendered":"IMF Predicts 3% Economic Growth for Ghana by End of 2024"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The International Monetary Fund (IMF) has projected that Ghana\u2019s economy will grow by 3% by the end of 2024, according to its World Economic Outlook Report, released during the IMF\/World Bank meetings in Washington, D.C. on Tuesday. This aligns closely with the Government of Ghana\u2019s own forecast of 3.1% GDP growth, as outlined in the 2024 Budget.<\/p>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"wp-block-paragraph\">However, some IMF officials have hinted to JoyBusiness that these projections may be updated later in the year to reflect recent economic developments. A senior IMF official noted, \u201cWe are optimistic that Ghana\u2019s growth could exceed our initial estimate by the year\u2019s end.\u201d<\/p>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"wp-block-paragraph\">Meanwhile, the World Bank, in its Africa Pulse Report released earlier this month, has raised its forecast for Ghana\u2019s 2024 growth to 4%, citing an increase in economic activity in the last two quarters of the year. The World Bank had initially predicted 3.1% growth but revised its outlook based on these developments.<\/p>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">In the same report, the IMF predicted Ghana\u2019s inflation rate to close at 19.5% in 2024, which is notably higher than the Bank of Ghana\u2019s target range of 13-17%. However, the IMF expects inflation to decrease to 11.5% by the end of 2025, signaling progress towards single-digit inflation. The World Bank\u2019s Africa Pulse Report also forecasts inflation to drop to 11.5% by 2025, aligning with the IMF\u2019s outlook.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The International Monetary Fund (IMF) has projected that Ghana\u2019s economy will grow by 3% by the end of 2024, according to its World Economic Outlook Report, released during the IMF\/World Bank meetings in Washington, D.C. on Tuesday. This aligns closely with the Government of Ghana\u2019s own forecast of 3.1% GDP growth, as outlined in the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":306,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30,31],"tags":[],"class_list":["post-305","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IMF Predicts 3% Economic Growth for Ghana by End of 2024 - WinsMediaGH<\/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:\/\/winsmediagh.com\/?p=305\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF Predicts 3% Economic Growth for Ghana by End of 2024 - WinsMediaGH\" \/>\n<meta property=\"og:description\" content=\"The International Monetary Fund (IMF) has projected that Ghana\u2019s economy will grow by 3% by the end of 2024, according to its World Economic Outlook Report, released during the IMF\/World Bank meetings in Washington, D.C. on Tuesday. 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