In 2018 and 2019, Ghana was the fastest growing economy in the world as indicated by the IMF. The nation was relied upon to have a growth rate of 8.8% in its World Economic Outlook.
As at 2017, statistics showed that Ghana’s assessed revenue was 9.544 billion, with the expenses being 12.36 billion. Foreign reserves was $7.555 billion as at December 2017 – according to the CIA World Fact Book.
In 2020, the share of agribusiness in Ghana’s GDP was 18.24 percent. Industry contributed roughly 34.69 percent and the service sector also contributed around 42.63 percent.
Ghana has since then, made an honest effort to still be labeled as the fast rising economy. In 2021, the country’s gross domestic product — which is its total output of goods and services — increased by 5.7%. It was the strongest calendar-year growth since a 7.2% surge in 1984 after a previous recession.
As per Trading Economics Global Macro Models and Analysts assumptions, GDP in Ghana was expected to reach 58.00 USD Billion before the end of 2021. In the long haul, Ghana’s GDP is projected to drift around 64.00 USD Billion in 2022.
Growth was projected to increase to 4% in 2021 and 4.1% in 2022. Inflation was expected to ease to 8.2% in 2021 and 8%, in 2022—in the midpoint of the Bank of Ghana’s target band of 6%–10%.