//GA4 analytics
  • Home
  • Privacy & Policy
  • Contact
  • Media
  • CratesHub.com
  • Audio on Demand
ATL FM NewsRoom
  • Home
  • Featured
    UCC Association of Students with Special Needs celebrates Awareness Week

    UCC Association of Students with Special Needs celebrates Awareness Week

    This year marks a significant milestone for the Black Star International Film Festival (BSIFF) as it celebrates its 10th anniversary under the theme: “The Relevance of Film in Society.”

    Black Star International Film Festival Celebrates 10 Years of Impact

    UCC: Department of Music and Dance partners TAI to Build an Art Resilience Centre

    UCC: Department of Music and Dance partners TAI to Build an Art Resilience Centre

    Shocking new report reveals one in six Ghanaians forced to pay bribes to public officials

    Shocking new report reveals one in six Ghanaians forced to pay bribes to public officials

    GHS Intensifies Public Education and Surveillance on Monkeypox

    GHS Intensifies Public Education and Surveillance on Monkeypox

    U.S. Embassy Bids Farewell to Ambassador Virginia Palmer

    U.S. Embassy Bids Farewell to Ambassador Virginia Palmer

    US-Ghana relations moving from aid to commercial relations -Virginia Palmer

    US-Ghana relations moving from aid to commercial relations -Virginia Palmer

    FDA, CAMC crack down on toxic baby diapers repackaged for sale

    FDA, CAMC crack down on toxic baby diapers repackaged for sale

    CCMA warns commercial drivers against charging old transport fares

    CCMA warns commercial drivers against charging old transport fares

  • News
    • All
    • Africa News
    • Business
    • International
    • Local News
    Bill Gates to give most of his $200bn fortune to Africa

    Bill Gates to give most of his $200bn fortune to Africa

    More than 700 believed dead in devastating Nigeria floods

    More than 700 believed dead in devastating Nigeria floods

    U.S. halts new student visa appointments for expanded social media screening

    U.S. halts new student visa appointments for expanded social media screening

    Gov’t exceeds T-bill target by GHS 423m

    Strong investor demand pushes Ghana’s T-bill sales past target by GHS423m

    https://atlfmnews.com/auto-draft/

    South Africa to pursue appeal against Nigerian pastor acquitted of rape

    U.S. launches $1,000 'voluntary return' program for undocumented migrants to ease deportation burden

    U.S. launches $1,000 ‘voluntary return’ program for undocumented migrants to ease deportation burden

  • Politics
  • Sports
  • Entertainment
  • Technology
  • Lifestyle
  • Opinions
  • MediaAudio
    • All
    • Agyanom Afarifo
    • Cross Current
    • Sports Pai Mu Kan
    • Thursdays Sports

    Thursday Afternoon Sports

    Agoro Nie Pae Mu Ka

    Cross Current

    Agyanom Afarifo

  • Contact Us
  • About us
No Result
View All Result
  • Home
  • Featured
    UCC Association of Students with Special Needs celebrates Awareness Week

    UCC Association of Students with Special Needs celebrates Awareness Week

    This year marks a significant milestone for the Black Star International Film Festival (BSIFF) as it celebrates its 10th anniversary under the theme: “The Relevance of Film in Society.”

    Black Star International Film Festival Celebrates 10 Years of Impact

    UCC: Department of Music and Dance partners TAI to Build an Art Resilience Centre

    UCC: Department of Music and Dance partners TAI to Build an Art Resilience Centre

    Shocking new report reveals one in six Ghanaians forced to pay bribes to public officials

    Shocking new report reveals one in six Ghanaians forced to pay bribes to public officials

    GHS Intensifies Public Education and Surveillance on Monkeypox

    GHS Intensifies Public Education and Surveillance on Monkeypox

    U.S. Embassy Bids Farewell to Ambassador Virginia Palmer

    U.S. Embassy Bids Farewell to Ambassador Virginia Palmer

    US-Ghana relations moving from aid to commercial relations -Virginia Palmer

    US-Ghana relations moving from aid to commercial relations -Virginia Palmer

    FDA, CAMC crack down on toxic baby diapers repackaged for sale

    FDA, CAMC crack down on toxic baby diapers repackaged for sale

    CCMA warns commercial drivers against charging old transport fares

    CCMA warns commercial drivers against charging old transport fares

  • News
    • All
    • Africa News
    • Business
    • International
    • Local News
    Bill Gates to give most of his $200bn fortune to Africa

    Bill Gates to give most of his $200bn fortune to Africa

    More than 700 believed dead in devastating Nigeria floods

    More than 700 believed dead in devastating Nigeria floods

    U.S. halts new student visa appointments for expanded social media screening

    U.S. halts new student visa appointments for expanded social media screening

    Gov’t exceeds T-bill target by GHS 423m

    Strong investor demand pushes Ghana’s T-bill sales past target by GHS423m

    https://atlfmnews.com/auto-draft/

    South Africa to pursue appeal against Nigerian pastor acquitted of rape

    U.S. launches $1,000 'voluntary return' program for undocumented migrants to ease deportation burden

    U.S. launches $1,000 ‘voluntary return’ program for undocumented migrants to ease deportation burden

  • Politics
  • Sports
  • Entertainment
  • Technology
  • Lifestyle
  • Opinions
  • MediaAudio
    • All
    • Agyanom Afarifo
    • Cross Current
    • Sports Pai Mu Kan
    • Thursdays Sports

    Thursday Afternoon Sports

    Agoro Nie Pae Mu Ka

    Cross Current

    Agyanom Afarifo

  • Contact Us
  • About us
No Result
View All Result
ATL FM NewsRoom
No Result
View All Result
--Advertisements--
Home News Business

Ghana’s growth rate expected to be 2.7% in 2023 – World Bank forecasts

Mabel Boamah by Mabel Boamah
2 years ago
in Business
0
Ghana's growth rate expected to be 2.7% in 2023-  World Bank forecasts
0
SHARES
Share on FacebookShare on Twitter
--Advertisements--

According to the World Bank’s January 2023 Global Economic Prospects report, the Ghanaian economy would grow by 2.7% in 2023, lower than the Sub-Saharan Africa average of 3.6%.

It does, however, predict the economy to increase by 3.5% in 2024, as it did in 2022.

--Advertisements--

According to the World Bank, the Ghanaian economy has been grappling with several setbacks, including mounting public debt, increased inflation (50.3% in November 2022), and a depreciating currency (38.8% in 2022), which is why it is requesting IMF assistance. This, it claims, will have an impact on private sector development in 2022 and will continue this year.

In 2022, increased input costs as a result of high fuel and raw material prices hit the private sector once again. According to the Ghana Statistical Service, the economy slowed in the third quarter of last year, rising by 2.9%.

--Advertisements--

“New orders and output have been trending down for many months. Rising input costs, on the back of high fuel and raw material prices, compelled businesses to cut workers for the first time in about a year”, it explained.

As a result, it is hardly unexpected that the government has set a 2.8% growth target for this year.

The growth rate of 60% of SSA nations has been revised lower.

Read Also: Alan Kyerematen officially  declares desire to run for NPP flagbearership race

Meanwhile, the World Bank has published a lower revision for Sub-Saharan Africa (SSA) growth for about 60% of nations, including Ghana.

It stated that the region’s economic development will be hampered by the slowing of growth.

“Growth in SSA is expected at 3.6% in 2023 and 3.9% in 2024. Compared to the June [2022] forecast, growth was revised down for almost 60% of countries, including downward revisions for over 70% of metal exporters which are expected to be affected by the further easing of global metal prices. Even as cost of living pressures are anticipated to moderate, the negative impact of persistent poverty and food insecurity on growth, amplified by other vulnerabilities, such as unfavorable weather, high debt, policy uncertainty, and violence and conflict are anticipated to keep the pace of recoveries subdued in many countries”

Senegal is anticipated to be the fastest-growing economy in Sub-Saharan Africa in 2023, with a 7.1% growth rate.

10 countries in SSA with high growth rates

COUNTRYGDP
Senegal8.0%
Niger7.1%
Côte d’Ivoire6.8%
Rwanda6.7%
Congo, Dem. Rep.6.4%
Benin6.2%
Togo5.6%
Uganda5.5%
Mauritius5.5%
Ethiopia5.3%
Guinea5.3%

Economy slows down in quarter 3, 2022 – GSS

Ghana’s GDP grew at its slowest rate in two years in the third quarter of 2021, according to statistics from the Ghana Statistical Service (GSS).

According to the GSS, the country’s economy would grow at a 2.9% annual rate in the third quarter of 2022.

This is less than the 4.7% GDP growth achieved in the second quarter of 2022.

CLICK HERE FOR MORE STORIES

SOURCE: myjoyonline

Previous Post

Constantine II, last king of Greece dies at 82

Next Post

Our Ghanaian partner printed fake tickets for 2022 concert – Co-founder Afrochella

Mabel Boamah

Mabel Boamah

Next Post
Our Ghanaian partner printed fake tickets for 2022 concert – Co-founder of Afrochella

Our Ghanaian partner printed fake tickets for 2022 concert - Co-founder Afrochella

Listen Live

ATL FM Live Streaming
Your browser does not support the audio element.

Stay Connected test

  • 1.9k Followers
  • 1000 Subscribers
  • Trending
  • Comments
  • Latest
UCC: Department of Music and Dance partners TAI to Build an Art Resilience Centre

UCC: Department of Music and Dance partners TAI to Build an Art Resilience Centre

June 4, 2025
More than 700 believed dead in devastating Nigeria floods

More than 700 believed dead in devastating Nigeria floods

June 2, 2025
This year marks a significant milestone for the Black Star International Film Festival (BSIFF) as it celebrates its 10th anniversary under the theme: “The Relevance of Film in Society.”

Black Star International Film Festival Celebrates 10 Years of Impact

June 4, 2025
OpenAI intensifies its efforts in Asia and joins together with Kakao, after its significant agreement with SoftBank

OpenAI dominating enterprise AI adoption, leaving rivals behind

May 12, 2025
Mata opens up about Mourinho ups and downs, Australian adventure

Mata opens up about Mourinho ups and downs, Australian adventure

0
McIlroy explains media absence, says he was 'pretty annoyed

McIlroy explains media absence, says he was ‘pretty annoyed

0
Amerado admits he doesn’t always enjoy being an artist

Amerado admits he doesn’t always enjoy being an artist

0
AMD acquires brium to challenge Nvidia’s AI hardware dominance

AMD acquires brium to challenge Nvidia’s AI hardware dominance

0
Mata opens up about Mourinho ups and downs, Australian adventure

Mata opens up about Mourinho ups and downs, Australian adventure

June 5, 2025
McIlroy explains media absence, says he was 'pretty annoyed

McIlroy explains media absence, says he was ‘pretty annoyed

June 5, 2025
Amerado admits he doesn’t always enjoy being an artist

Amerado admits he doesn’t always enjoy being an artist

June 5, 2025
Liverpool eye $140m signing, Sancho sought by three clubs

Liverpool target Arsenal’s $140m signing, while Sancho attracts trio of clubs

June 5, 2025

Recent News

Mata opens up about Mourinho ups and downs, Australian adventure

Mata opens up about Mourinho ups and downs, Australian adventure

June 5, 2025
McIlroy explains media absence, says he was 'pretty annoyed

McIlroy explains media absence, says he was ‘pretty annoyed

June 5, 2025
Amerado admits he doesn’t always enjoy being an artist

Amerado admits he doesn’t always enjoy being an artist

June 5, 2025
Liverpool eye $140m signing, Sancho sought by three clubs

Liverpool target Arsenal’s $140m signing, while Sancho attracts trio of clubs

June 5, 2025

ATL FM LIVE

ATL FM Live Streaming
Your browser does not support the audio element.

We serve you with the most credible and authentic news covering articles, campus, regional, national and international stories.

Follow Us

Browse by Category

  • Africa News
  • Agyanom Afarifo
  • Business
  • Cross Current
  • E-News
  • Featured
  • Foreign News
  • Foreign Sports
  • International
  • Lifestyle
  • Local News
  • Local Sports
  • Media
  • News
  • Opinions
  • Politics
  • Sports
  • Sports Pai Mu Kan
  • Tech
  • Thursdays Sports
  • Uncategorized
  • Video

Recent News

Mata opens up about Mourinho ups and downs, Australian adventure

Mata opens up about Mourinho ups and downs, Australian adventure

June 5, 2025
McIlroy explains media absence, says he was 'pretty annoyed

McIlroy explains media absence, says he was ‘pretty annoyed

June 5, 2025
  • Home
  • Privacy & Policy
  • Contact
  • Media
  • CratesHub.com
  • Audio on Demand

© 2020 ATL FM NEWS - Your source of authentic news. Powered by ATL FM IT Dept

--Advertisements--
No Result
View All Result
  • About us
  • Audio on Demand
  • Contact Us
  • Home
  • Privacy & Policy

© 2020 ATL FM NEWS - Your source of authentic news. Powered by ATL FM IT Dept