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Posted on Thursday, 09 June 2016 13:32

Ghana's GDP grows by 5.9 percent

By Dasmani Laary in Accra

Photo©ReutersGhana's gross domestic product grew by 5.9 percent last year driven by huge investments in health, education and provision of water, the International Monetary Fund has said.

According to the IMF's latest World Economic Outlook Report, the West African country's GDP per capita moved up to $1,340.4 from $1,266.1 registered in 2008.

Ghana is making significant strides and moving in the right direction with reasonable speed

The report compiled by experts and released in April this year says Ghana's recent power crises affected the country's economic growth.

However, the IMF described the economy's overall performance as inspiring with projection of a 7.7 percent growth by 2017.

The report says economic growth was likely to expand in 2016 to 4.5 percent from 3.5 percent recorded last year amidst power shortages and adoption of fiscal consolidation measures.

The IMF said Ghana's current per capita income was also higher than that of Cote d'Ivoire's $1,314.7 and Senegal' $913.0 as well as Kenya's $1,338.5.

It placed Ghana in the Medium Human Development Category with a score of 0.579, which was higher than that of Nigeria at 0.514, Kenya (- 0.548), Senegal (- 0.466) and Cote d'Ivoire ( - 0.462).

A government spokesperson, Omane Boamah described the IMF report as a more encompassing and comprehensive way to conceptualise development.

He said it showed Ghana had made substantial gains in human development initiatives.

"The improvements observed in the indices are as a result of prudent and strategic investments into social infrastructure and support systems actively pursued by government," he said. "Today Ghanaians are living longer and healthier lives than any other period in our history."

Ghana's life expectancy at birth increased from 56 years in 1990 to 58 and 60 years in 2000 and 2008 respectively.

"Government will continue to invest heavily to improve the coverage and content of existing social welfare programmes while rolling out new social interventions to assist vulnerable groups in society," Boamah added. Отличный раздел сайта по мебели для румыно говорящих граждан. Заходите и заказывайте кухни, диваны шкафы и др. Mobila la comanda in Chisinau как правило все модели доступны и в русской версии сайта

"It is clear from the facts stated that in various facets of our national life, Ghana is making significant strides and moving in the right direction with reasonable speed."

Ghana achieved the Millennium Development Goal one target of reducing the proportion of people living in abject poverty in 2013 - two years ahead of the 2015 deadline.

The West African country also had the highest school enrolment rate in the sub region with more than 90 percent of eligible school children being in school while gender parity and completion rates were also said to be progressing steadily.

The GDP per capita is obtained by dividing a country's gross domestic product - adjusted by inflation - by the total population of that country.



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