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Gita Gopinath, Chief Economist at the IMF who launched the report in Washington DC
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The International Monetary Fund (IMF) forecasts an 8.8 percent Ghana's growth rate at the end of the year in its global economywatch report released in Washington, Tuesday.
According to the Fund, Ghana's economy would be largely influenced by rising commodity prices, oil prices and some policy measures. government should be implemented this year.
What is the report on the IMF's global economic outlook?
The 198 report set up by the IMF's research department examines the global economy, opportunities, threats and the economic situation of the 189 members of the Fund. It is on the basis of historical data and projections based on information collected by IMF country offices as part of the competition for their mission in member countries.
IMF and its global forecasts for Ghana
This may be described like one of its highest the forecasts by the IMF for the country since 2011, when the Fund was forecasting around 17 percent growth rate for Ghana. In 2012, the IMF also planned a 9 percent growth rate for Ghana.
IMF projection compared to Ghana projection
IMF World Outlook Report clearly indicates that the Fund is more optimistic and optimistic about the growth of the economy than even the government.
In the 2019 budget, the government plans an overall growth of 7% percent, the IMF estimates that Ghana would finish the year with growth higher than that described by the Minister of Finance, Ken Ofori Atta for this year.
The IMF is the second largest international institution after the World Bank to be optimistic about the expansion of the Ghanaian economy. what government projected.
But a source close to the government baderted that "it might be prudent to be moderate with such macroeconomic indicators, rather than being too optimistic.
Possible impact of this IMF projection on the economy
For some, development could convince investors outside the country to make their capital profitable, depending on the sectors that would have led to this expansion. This could therefore have a positive impact on the attraction of capital for the country in the coming months.
Others also claimed that if the economy grew by more than 1% government, this means that these sectors would stimulate growth in job creation.
However, others also argued that it was only a forecast and that this could be realized or not realized at all.
Some of these badysts said Ghanaians should be moderate about their expectations, despite expectations of strong growth.
IMF and Ghana inflation outlook for this year
The IMF's World Economic Report also forecasts an inflation forecast of 8.7% at the end of the year. percent for 2019 after projecting a 9 percent inflation at the end of 2018.
What the report on the world economy says.
After strong growth in 2017 and early 2018, global economic activity slowed sharply in the second half of last year, reflecting a convergence of factors affecting major economies.
China's growth has slowed as a result of the regulatory tightening needed to curb parallel banking activity and increased trade tensions with the United States.
The eurozone economy lost more momentum than expected as consumer and business confidence weakened and German auto production was disrupted by the introduction of new emission standards; investment fell in Italy with the widening of sovereign spreads; and external demand, particularly from emerging Asia, has eased.
Elsewhere, natural disasters have affected activities in Japan. Trade tensions are increasingly weighing on business confidence and, as a result, financial market sentiment is worsening as financial conditions harden for vulnerable emerging markets in the spring of 2018, and later in advanced economies. Year, weighing on global demand.
Conditions eased in 2019, the US Federal Reserve more accommodative monetary policy and markets have become more optimistic about a US-China deal trade agreement, but they remain slightly more restrictive than in the autumn.
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