The Ghanaian economy expanded by 3.1% in the first quarter of this year, the lowest since the same period in 2019. However, in the same period of 2020, the Gross Domestic Product (GDP) growth rate was 7.0%. According to figures from the Ghana Statistical Services, Construction (14.2%)), Manufacturing (6.1%) as well as Information and Communication …

Ghana’s inflation rate dropped its lowest level since the start of 2013, at 7.5 percent in May, which is less than the median of the Bank of Ghana’s target band of between 6 percent and 10 percent. The fall in headline consumer price inflation from April’s level of 8.5 percent was announced by Government Statistician …

Prices of goods and services are expected to go up in the coming days and weeks, following the 13% upward adjustment in transport fares. This probably will shoot up inflation though the margin of increase might not be too wide. Inflation is an important indicator that banks use in pricing their loans and therefore any …

Curbing illicit financial flows should be top of the policy agenda as the government seeks to reboot the economy in the post-pandemic era, the immediate past Dean of the University of Ghana Business School, Prof. Joshua Yindenaba Abor, has suggested. “You have huge tax revenue that would have come into the economy, but it is …

Consumer inflation dropped by 1.8 percentage points to 8.5 percent in April, driven by a large drop in food inflation, which fell by 4.3 percentage points to 6.5 percent in the month, according to data from the Ghana Statistical Service. Although this indicates that the Covid-induced price hikes from last year continue to ease off, …

Ghana’s economy has ranked 73rd in the world in terms of Gross Domestic Product (GDP) for the year 2019 making it the 8th largest economy in Africa. The 2020 figures are not expected for another one year. According to the World Bank, Ghana’s economy stood at about US$67 billion in size in 2019, making it …

The central bank is projecting that the lingering effects of the pandemic are likely to have a mixed impact on three of the major commodities – gold, oil and cocoa – that determines the direction of the country’s trade balance. According to the Bank of Ghana’s data, the first two months of the year saw …

The Covid-19 health recovery levy and additional taxes on retail petroleum products announced in the 2021 budget will come into force from May 1, the Ghana Revenue Authority (GRA) has said. According to the GRA, the 1 percent Covid-19 health recovery levy will be applied to both domestic goods and services as well as imports, …

The first full sovereign credit rating of Ghana for 2021 was delivered last week, and it left rating sentiment unchanged from last year. This came from global credit rating firm Moody’s Investor Services rating the country’s sovereign bond issuance at B3 negative, exactly the same as last year when the firm downgraded Ghana from B3 stable …

The Economist Intelligence Unit (EIU), the London-based business intelligence firm, says it does not see any room for the Bank of Ghana (BoG) to reduce the monetary policy rate—which has an effect on the cost of credit—in the rest of the year. The central bank has kept the policy rate unchanged for 12 months, having …