The Institute of Statistical Social and Economic Research (ISSER) has projected Ghana’s growth rate to hit 4.5 percent by the end of 2024.
The International Monetary Fund (IMF) earlier revised Ghana’s growth rate from 3 percent to 4 percent for the same period.
peaking at the launch of the State of the Ghanaian Economy Report and Review of the third quarter economic performance, the Director of ISSER, Prof. Peter Quartey said the country is on a positive trajectory and expects the rate to exceed 4 percent.
He said there is the need to ensure expenditure rationalization, especially in procurement and compensation through digitalization of payroll systems.
Suggesting some areas the government can focus on to accelerate the growth, Prof. Quartey pointed out that it is time to invest in the agriculture and industry sectors. He added that there is an urgent need to also check the debt levels to restrict government from overspending.
Based on the latest projection, ISSER is upbeat about Ghana’s economy, but advised the government to enhance revenue mobilization through digitalization.
The report also appealed to the government to invest in agriculture to address the hike in food inflation.
