Ghana third among top 10 estimated African economic growth performers for 2017

Ghana will be third among the top 10 African countries with projected highest growth rates in 2017. Ghana’s economy is projected to grow at 7.4 per cent, according to the Foresight African report 2017.

The report by the Brookings Institute indicates that Ghana’s growth rate is projected to rise substantially in 2017 following the opening of a new oil field, the Tweneboa, Enyenra and Ntomme (TEN) oil field, which may increase the country’s output by nearly 50 per cent.

Meanwhile Mali, Niger and Togo who were part of the top 10 African countries with the highest growth rates in 2016 will not make it to the top Africa Economic growth performers list in 2017.

The report further indicates that Uganda and Mozambique will join the top performers list with GDP of 5.5 per cent for both countries in 2017. Countries like Côte d’Ivoire, Tanzania, Senegal, Ethiopia, Rwanda and Kenya who were present in the top performers list for 2016 will still have places in the 2017 list.

Côte d’Ivoire is projected to grow with 8.0 per cent, Tanzania with 7.2 per cent, Senegal’s growth rate is expected to be 6.8 per cent.

The growth rate for Ethiopia is expected to be 7.5 per cent, Rwanda is projected to grow at 6.0 per cent and Kenya will grow at 6.1 per cent.

Burkina Faso’s growth is estimated at 5.9 per cent.

By Pamela Ofori-Boateng

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