The Economist Intelligence Unit (EIU) has listed Ghana as one of the countries to watch on the continent saying the national economy stands the chance of expanding significantly.
A market watch report made available to 3FM 92.7 analysed the region’s opportunities and challenges and concluded that Ghana is a pocket of promise for a two reasons: “One, short-term economic activity is buoyed by developments in the energy sector and, two, ambitious infrastructure development plans support the medium-term agenda,” stressing that while “fiscal prudence from the Ghanaian government remains key, the EIU is fairly confident about the administration’s policy direction. The economy is expected to expand by an average of about 6% from 2017 to 2021.”
The report examined six other African countries – Côte d’Ivoire, Ethiopia, Kenya, Uganda, Tanzania and Cameroon in an EIU a webinar – titled ‘Sub-Saharan Africa: At a turning point?’
On the overall performance, the EIU put aggregate economic growth down to around 1% in 2016, the slowest pace in over a decade, which the EIU attributed to: “the collapse of commodity prices, tighter international financing conditions, and unfavourable weather across parts of the continent last year.
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