Stable energy supply boosts growth in Ghana

Ghana, seen as a logistics
gateway to a number of
markets in West Africa, is
expected to grow by 5.2%
in 2016 from 3.4% in 2015
“reflecting the positive
impact of more a stable
energy supply and increased
contribution from the oil
and gas and agriculture
industries,” according to the
World Bank.
Energy supply is
expected to improve
following emergency
measures that
include the use of
power barges.
The country’s mediumterm
growth prospect is
strong with 8.2% expected
in 2017, moderating
to 7.5% in 2018 on the
assumption that fiscal
adjustment remains on
track with the support
of the International
Monetary Fund (IMF)
and other development
partners, according to the
World Bank.
FocusEconomics panellists
predict that growth this year
will be supported by robust
private consumption and
fixed investment along with
a turnaround in exports.
However, risks
emerge from persistent
macroeconomic imbalances
and uncertainty surrounding
the general elections
scheduled for November.
The panellists are more
pessimistic about growth,
predicting 4.5% in 2016
and 6.7% in 2017.