On the Forbes 2015 ranking for doing Business in the world ranks Ghana 79th in the world and 8th in Africa, according to the report GDP Growth.
While government projection says the Ghana will end the year with a GDP growth rate of 3.9 percent, the Ghana Statistical Service (GSS) projects a 4.1 percent growth rate for 2015, with the third quarter (Q3) growth rate reported at 3.6 percent.
A 24-month long energy crisis has crippled much of Ghana’s productive sector with industry and mining being the hardest hit among the economic players.
Ghana’s economy was strengthened by a quarter century of relatively sound management, a competitive business environment, and sustained reductions in poverty levels, but in recent years has suffered the consequences of loose fiscal policy, high budget and current account deficits, and a depreciating currency, observed the Forbes report.
“Ghana has a market-based economy with relatively few policy barriers to trade and investment in comparison with other countries in the region,” it added. Enditem