nov 11 by/ Joy Afi Asem
Ghana, officially the republic of Ghana is a country in west Africa. the economy of Ghana has a diverse and rich resource base including the manufacturing and exploitation of digital technology goods, the economy is a mixture of private and public enterprise about three-fifty of GDP is derived from the service sector agricultural contributes.
Ghana economy growth will soften in 2022, as soring inflation tighter monetary policy and and a depreciating currency, Ghana is grappling run away inflation as prices of basic commodities have spiralled, Ghana’s economic growth is subject to major fluctuation. The economic challenges facing the country include High inflation.
The economy has suffered significantly since early 2022, plunging the country into a full blown economy recession . Inflation rose from 30.9% in January to 37.2% in September and some analysists believe the actual level is more than twice the official rate possible as high as 98%, Ghana is also facing high inflation and a high level of state debt and heavy fluctuation in foreign direct investment. According to minister two forces chapping global events were coronavirus pandemic and crises in Ukraine.
however lake of famine subsides, poor government regulation, poor market facilities, poor famine practice the president NANA AKUFO ADDO begin his nationwide address blaming Ghana’s economic woes on Covid-19 the Ghana Cedi now is the worst performing currency so as it stands now Ghana is the most expansive west African country now ! no joke ! I pray we all can survive this and double up our hustle oo !This is the time to strategize and focus on multiples streams of incomes ….
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nov,11,2022