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Ghana's economy to become 12th fastest growing in sub-Saharan Africa for 2022 - Report

Akufo Addo121313131331313 President of Ghana, Nana Addo Dankwa Akufo-Addo

Thu, 5 May 2022 Source: www.ghanaweb.com

IMF releases April 2022 Regional Economic Outlook report

Ghana placed 6th with Cape Verde in West Africa

IMF forecasts an economic growth rate of 5.1% for Ghana, Report

A 2022 Regional Economic Outlook Report from the International Monetary Fund (IMF) has shown that Ghana will be ranked the 12th fastest growing economy in sub-Saharan Africa.

On the West African front, Ghana and Cape Verde economies were the 6th growing economies on the continent.

Per the report filed by myjoyonline.com the local economy will witness a 5.2 percent growth by the end of this year.

In the chart sighted by GhanaWeb, Niger was ranked the first with a GDP of 6.9 percent

This was followed by South Sudan, DR Congo, Rwanda, Mauritius, Equatorial Guinea, Cote D'Ivoire, Benin, Kenya, Gambia, Togo, and Cape Verde.

The 5.2 percent expected expansion in the economy this year will be slightly lower than the Gross Domestic Product (GDP) growth rate recorded in 2021.

It will be recalled that the IMF in 2021 projected an economic growth rate of 4.2 percent, but per the Ghana Statistical Service, the economy recorded a 5.4 percent growth.

"In 2023, the IMF forecasts a growth rate of 5.1%, which will place the country in the 21st position in the league of African economies. This is due to the expected strong growth rate by most African economies," myjoyonline.com reported.

See the chart below.

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Source: www.ghanaweb.com
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