{"id":1760,"date":"2024-04-09T22:01:48","date_gmt":"2024-04-09T22:01:48","guid":{"rendered":"https:\/\/sotnews.agency\/?p=1760"},"modified":"2024-04-10T01:57:11","modified_gmt":"2024-04-10T01:57:11","slug":"ghanas-2024-gdp-growth-to-slow-world-bank-projects-3","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=1760","title":{"rendered":"Ghana\u2019s 2024 GDP growth to slow, World Bank projects 3%"},"content":{"rendered":"
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\n \t<\/i> Read Time:<\/span>1 Minute, 30 Second <\/div>\n\n <\/div>\n

The World Bank is forecasting that Ghana\u2019s economy in 2024 is anticipated to experience a deceleration in growth, despite the anticipation of improved economic activity.<\/p>\n

This means that while there might be increased economic activity, the pace of growth is expected to slow down compared to previous periods.<\/p>\n

The World Bank has also projected an end-of-year Gross Domestic Product (GDP) growth rate of about 3% for Ghana.<\/p>\n

This is almost in line with the 2.8% growth rate targeted by the government but suggests moderate economic growth for the country.<\/p>\n

These World Bank projections were captured in its April 2024 Africa Pulse Report.<\/p>\n

The report, however, indicated that, the GDP will jump significantly to about 5% in 2025.<\/p>\n

Additionally, Ghana\u2019s contribution to the regional GDP growth among the largest economies in the region is projected to be around 0.10%.<\/p>\n

This suggests a relatively modest impact on the overall economic growth of the region from Ghana\u2019s economy.<\/p>\n

However there is a more positive outlook for Sub-Saharan Africa as a whole.<\/p>\n

Economic growth in the region is expected to accelerate to 3.4% in 2024, with further improvement to an average rate of 3.9% in 2025-26.<\/p>\n

This indicates a general trend of economic recovery and expansion across Sub-Saharan Africa during the specified period.<\/p>\n

Despite the slowdown expected in Ghana, the overall regional outlook suggests a favourable trajectory for economic growth in Sub-Saharan Africa, which could be influenced by various factors including commodity prices, investment flows, and policy measures implemented by governments in the region.<\/p>\n

The World Bank further called for several policy actions to foster stronger and more equitable growth. These include restoring macroeconomic stability, promoting inter-generational mobility, supporting market access, and ensuring that fiscal policies do not overburden the poor.<\/p>\n\n

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