Ghana: Economic Snapshot 2019

In addition to being the second-biggest producer of gold on the African continent and the second-largest cocoa producer in the world, Ghana is home to one of the largest discoveries of oil in recent decades, which provides the government with a substantial revenue stream. Although the country faces economic challenges, such as reliance on the export of key commodities, the IMF estimates that GDP expansion will rise from 6.3% in 2018 to 7.6% in 2019. Furthermore, the government’s revised tax policies will help generate higher levels of income for public coffers and reduce the need to cut expenditures to remain within the targeted fiscal deficit limit.