Ghana has been named as the second fastest growing economy in the world this year, moving ahead of its peers in Sub-Saharan Africa, except South Sudan.
The forecast was contained in the World Economic Outlook published by the International Monetary Fund (IMF) and projected that this year’s growth in sub-Saharan African will reduce from 3.8 percent to 3.5 percent.
However, the forecast predicts that the economies of Ghana and South Sudan are expected to grow by 8.8 percent, the fastest any forecast has predicted for the year.
The Daily Graphic on Tuesday reports that on the contrary, the World Bank predicted a slightly lower economic growth of 7.6 percent for Ghana.
In addition, the newspaper says the Government of Ghana also was very conservative and predicted a lower growth rate of 7.2 percent in its 2019 budget.
Moreover, the Head of the Africa Department of the IMF, Mr. Abebe Aemero Selassie, has warned against rising public debt, saying that “the reason for increase in debt levels tends to be very country-specific; for some it is due to addressing large infrastructure needs.”
DAP/GIK/APA