The Report: Ghana 2018

The Report: Ghana 2018

Since assuming power in January 2017 the administration of President Nana Akufo-Addo has moved to rein in fiscal spending, industrialise rural regions and improve the business environment in order to jump-start economic growth. The government has brought down the fiscal deficit and freed up capital spending for priority projects, and Ghana’s economic prospects appear strong for 2018.

Following modest GDP growth in the 2014-16 period, the recently elected government was under pressure to accelerate economic growth in 2017. In addition to a belt-tightening process, the government introduced a number of reforms, which are beginning to bear fruit. The government aims to couple the expansion of the resources sector with an aggressive industrial policy, an overhaul of the agricultural sector, and improved access to financial services to ensure greater economic diversification and value addition. A partial rebound in oil and gold prices is also expected to help to stabilise the economy.

 

OBG & Ghana