Ghana: Latest numbers from the Central Bank indicate a slow down in growth of economy in 1st quarter

“The combination of these factors have resulted in heightened exchange rate pressures in the foreign exchange market, although at a measured pace relative to 2012. “Inflation has also gone up for the third consecutive month, raising the central path of the forecast by a percentage point.”

Fiscal perfomance for the first quarter also pointed to significant revenue shortfalls although expenditures remained within targets.

The Mahama administration has implemented measures to address the revenue shortfalls and rationalize expenditures including a freeze on new projects and restructure government debt by substituting the high cost of short-term debt with longer-term instruments which is expected to help reduce the high interest payments.

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