Govt has made several significant changes to the nation’s macroeconomic and budgetary goals.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The Government of Ghana has announced some key revisions to the country’s macroeconomic fiscal targets for 2024.

Presenting the Mid-year Budget in parliament on July 23, 2024, Finance Minister, Mohamed Amin Adam said the Overall Real GDP Growth rate has been revised upwards from 2.8 percent to 3.1 percent.

He stated that government has decided to maintain the end of year inflation target unchanged at 15 percent. In addition, Non-Oil Real GDP Growth rate was also revised upwards from 2.1 percent to 2.8 percent.

Dr. Amin Adam said that Primary Balance on Commitment basis has also been maintained at a surplus of 0.5 percent; while Gross International Reserves (including oil funds and encumbered/pledged assets) is expected to cover not less than 3.0 months of imports

Source: newsthemegh.com