World Bank projects 4.5% growth rate for Ghana

The country will record a 4.5 percent economic growth rate for this year, according to World Bank’s report on economic prospects for countries around the world.

The projection by the World Bank is far higher than government’s own estimates of 3.9% for this year.

If the prediction by the World Bank is anything to go by then government should be assured a little pickup in economic activities.

The growth, according to the bank, will create more employment and improve revenue for government.

The World Bank is also recommending a freeze on public sector wage increase.

The report notes because of current challenges with Ghana’s economy government may have challenges in its ability to maintain the hike as efforts to clean the payroll.

The Bank is also prescribing cuts in government expenditure in less productive sectors of the economy.

-joynews

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ABOUT: Nana Kwesi Coomson

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An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.

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