Ghana’s GDP growth rate of 3.7% in 2016 was certainly a far cry from the record high of 14.0% in 2011, and the lowest in over two decades (GoG, 2017). The 2016 growth outcome was a continuation of the downward trend since 2011. It represented a further decline from the 2015 rate of 3.9%. Although the 2016 outturn of 3.6% growth was substantially higher than the anemic rate of 1.4% registered by sub-Saharan Africa (SSA) as a whole in 2016, it fell short of the 4.1% (revised) target (GoG, 2017). Moreover, the country’s overall GDP growth rate was below that of the non-oil sector of 4.6% (GoG, 2017), a continuation of the underperformance of the oil sector.

Read more ...

Ghana’s record high GDP growth of 14.0% in 2011 (IMF, 2015a) could not be sustained in the subsequent years. For the first time since at least the last half-decade, the country’s growth in 2014 of 4.2% has fallen below the Sub–Saharan African (SSA) average of 5.0% (IMF, 2015a).

Read more ...