COVID-19 impacts negatively on global supply chains
Global oil and gold production to increase in 2022 – IEA
Ghana’s economy predicted to return to pre-pandemic levels in 2027 – IMF
The International Monetary Fund (IMF) has revised Ghana's Gross Domestic Product growth forecast to 5.2 percent for 2022 - this is also higher than Sub-Saharan Africa
This comes after the Fund had earlier projected a growth rate of 6.2 percent for 2022, which was much higher than that of the 4.7 percent growth rate projected in 2021.
The IMF in its recent World Economic Outlook report projected Ghana’s economy to expand by 5.1 in 2023 – which is 0.1 percent lower than the 5.2 percent projections.
It however predicted Ghana’s economy will return to pre-pandemic levels of 7.5 percent in 2027.
The Bretton Woods institution indicated that the projected growth of the Ghanaian economy would largely be driven by high commodity prices derived from high gold production and crude oil production.
Meanwhile, the International Energy Agency has predicted global demand for oil will increase to 99.7 million barrels a day (mb/d) in 2022 – this is 2.1 million barrels (mb/d) from 2021.
Logo of the International Monetary Fund
