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.

wpid-President-Mahama-led-Ghanas-delegation-in-deliberations-with-Chinese-counterpart.jpgGhana is after Mauritius, South Africa, Morocco, Botswana, Cape Verde, Rwanda and Zambia.

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

Source: Xinhua

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