Business News of Tuesday, 21 January 2020Source: www.classfmonline.comIMF cuts Ghana’s growth rate to 5.6%The 5.6% GDP is, however, higher than Sub Saharan Africa average growth rateGhana’s growth rate for the year 2020 has been revised to 5.6% s as against earlier (October 2019) forecast of 6 %, the International Monetary Fund (IMF) January 2020 World Economic Outlook Report has revealed. The 5.6% Gross Domestic Product is, however, higher than Sub Saharan Africa average growth rate of 3.5 percent in 2020–21, from 3.3 percent in 2019. But, in 2020 and 2021, the growth rate is forecast at low 4.0% and 3.7% respectively. The IMF forecast a GDP growth rate of 2.5% for Nigeria. In sub-Saharan Africa, growth is expected to strengthen to 3.5 percent in 2020–21 (from 3.3 percent in 2019).

Source: GhanaWeb January 21, 2020 12:11 UTC