{"id":265929,"date":"2025-11-06T06:28:07","date_gmt":"2025-11-06T06:28:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/265929\/"},"modified":"2025-11-06T06:28:07","modified_gmt":"2025-11-06T06:28:07","slug":"ghana-continues-to-break-economic-projections-with-the-fastest-inflation-recovery-in-years","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/265929\/","title":{"rendered":"Ghana continues to break economic projections with the fastest inflation recovery in years"},"content":{"rendered":"

\n Recent figures indicate that Ghana\u2019s current inflation rate stands at 8% compared to 9.4% in September.\n <\/p>\n

\n This figure is also a far cry from the same period last year, when Ghana was in the midst of one of its worst economic crises in history.\n <\/p>\n

\n The country\u2019s inflation figure for October 2024 was 22.1% a four-month high at the time, as opposed to the current figure, which represents a four-year low.\n <\/p>\n

\n Ghana\u2019s October 2025 inflation was disclosed by Government Statistician Alhassan Iddrisu during a virtual briefing on Wednesday.\n <\/p>\n

\n Ghana, the world’s second-largest producer of cocoa and Africa’s top exporter of bullion, benefited from high cocoa and gold prices, which have caused the cedi to rise versus the dollar by about 35% this year and helped reduce inflation, as seen on Bloomberg<\/a>.\n <\/p>\n

\n Johnson Asiama, the country’s central bank governor, revealed last week that inflation will probably end the year at less than 9.4%.\n <\/p>\n

\n Following a record 350 basis-point cut to 21.5% in September, the dip provides more support for a policy rate reduction later in the month.\n <\/p>\n

Ghana\u2019s economy under John Mahama <\/p>\n

\n The current inflation drop is the 9th decline in a row, highlighting the country\u2019s economic recovery under its new administration led by President John Mahama.\n <\/p>\n

\"Ghana\u2019s <\/p>\n

\n Since assuming office, President John Mahama’s administration has emphasized fiscal discipline, currency stability, and export growth as critical components of its economic plan.\n <\/p>\n

\n Efforts to improve budgetary discipline, along with favorable external conditions, have allowed the economy to reset after years of instability.\n <\/p>\n

\n For context, inflation declined<\/a> to 18.4% in May from 21.2% in April, then to 13.7% in June, owing mostly to a jump in gold prices, which increased the country’s foreign exchange profits and helped stabilize the cedi.\n <\/p>\n

\n A report in September showed that Ghana’s GDP expanded by 6.3% year on year in the second quarter of 2025, up from a revised 5.7% in the same period the previous year, according to data released by the Ghana Statistical Service.\n <\/p>\n

\n The services sector, which grew by 9.9% during the quarter compared to just 2% growth the year before, was the main driver of the rebound.\n <\/p>\n

\n Growth in agriculture and other service sectors drove a 7.8% increase in Ghana’s GDP, excluding oil. The resilience of agriculture provided a crucial cushion as oil production declined.\n <\/p>\n

\n As Ghana’s economy recovers from its worst economic crisis in decades, these data represent a turning point.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Recent figures indicate that Ghana\u2019s current inflation rate stands at 8% compared to 9.4% in September. This figure…\n","protected":false},"author":2,"featured_media":133507,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":["post-265929","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/265929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=265929"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/265929\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/133507"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=265929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=265929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=265929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}