Ghana's inflation projected to reach 8% in 2025 – IMF

Ghana’s economy is anticipated to enter into an end-year single-digit inflation of 8 percent in 2025.

This is the projection of the International Monetary Fund (IMF) which is in line with government's target for the same period.

In its latest World Economic Outlook Report released at the ongoing IMF/World Bank Spring Meetings in USA, the Fund is forecasting a positive economic outlook for Ghana in 2025.

The end-year single-digit inflation of 8 percent is based on robust measures undertaken under Ghana’s current IMF-ECF programme which will span three years.

The IMF has also projected a growth rate of 4.4 percent for 2025. The forecast is a substantial increase from the 2.8 percent projected growth rate earlier made for 2024.

Meanwhile, Ghana’s central bank expects inflation to remain within its target band of 15 plus or minus two percent for 2024.

The Bank of Ghana further projects that the disinflation process will continue while it adopts tight monetary policy measures to tame inflation.

Meanwhile, the IMF anticipates a decline in Ghana’s current account balance of -2.2 percent. This is despite maintaining a positive outlook for Ghana’s economy with a rebound anticipated in 2025.

MA/SA