Economic growth has been extremely robust following the countryas discovery of oil in 2007, reaching well into the double-digits and driving a boom in consumption and investment. The discovery in Ghanaas offshore Jubilee field in 2007 represented something of a turning point in the countryas economic trajectory. Followed by growth rates that at one point reached above 14%, as well as a GDP re-basing that improved the accuracy of its reporting, the country has moved up into lower middle-income status. As a result of its recent economic surge and stable environment, investment levels have continued to rise, as companies both foreign and domestic are eager to capitalise on the countryas wealth of natural resources and growing middle class. There have been challenges, as public spending comes under pressure and commodity exports remain exposed to exogenous shocks, but the economyas fundamentals are encouraging.... the floor dropped off at year-end, a said economist Yvonne Mhango, director for Sub-Saharan Africa at Renaissance Capital. ... In May 2013 the policy rate was further raised to 16%, as members of the MPC felt that risk to the inflation outlook anbsp;...
|Title||:||The Report: Ghana 2013|
|Author||:||Oxford Business Group|
|Publisher||:||Oxford Business Group - 2013-09-27|