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    IMF revises Ghana’s growth rate to 4.6% in 2021, 6.1% in 2022

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    We have no excuse as a country to fail in Agriculture – John Dumelo

    We have no excuse as a country to fail in Agriculture – John Dumelo

    Coconut tipped to be next big export commodity in Ghana after cocoa – African Eye Report

    Coconut tipped to be next big export commodity in Ghana after cocoa – African Eye Report

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    We have no excuse as a country to fail in Agriculture – John Dumelo

    Coconut tipped to be next big export commodity in Ghana after cocoa – African Eye Report

    Coconut tipped to be next big export commodity in Ghana after cocoa – African Eye Report

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    Ghana has no excuse not to succeed in the agric sector – Dumelo

    Ghana has no excuse not to succeed in the agric sector – Dumelo

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    Crisis looming in high schools under Akufo-Addo’s Free SHS programme – Minority

    Crisis looming in high schools under Akufo-Addo’s Free SHS programme – Minority

    Minority accuses Ofori-Atta of stifling Free SHS

    Minority accuses Ofori-Atta of stifling Free SHS

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    I’ll choose Afia Akoto over NDC any day – Chief Biney

    EC sets April 30 to pay election 2020 field operatives

    EC sets April 30 to pay election 2020 field operatives

    NDC youth leader wants Haruna Iddrisu retained as Minority Leader

    NDC youth leader wants Haruna Iddrisu retained as Minority Leader

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    As Majority Leader be circumspect with your utterances – Muntaka advises Kyei Mensah Bonsu

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    Bad news hits NDC as Former DCE, Samuel Kwadzo Wuadi Loses Wife

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    There is dignity in hard work – Adwoa Safo to kids as she condemns Kasoa killing

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    NDC Civil War Rages

  • BUSINESS
    ‘Time Trader’ becomes market leader amidst fierce competition

    ‘Time Trader’ becomes market leader amidst fierce competition

    Inflation to ease in quarter 2, 3 – Report

    Inflation to ease in quarter 2, 3 – Report

    NLA Reacts To Press Release/Conference By Ghana Lotto Operators Association(GLOA)

    NLA Reacts To Press Release/Conference By Ghana Lotto Operators Association(GLOA)

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    IMF revises Ghana’s growth rate to 4.6% in 2021, 6.1% in 2022

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    BoG Cautions Banks On Money Transfers Abroad

    We have no excuse as a country to fail in Agriculture – John Dumelo

    We have no excuse as a country to fail in Agriculture – John Dumelo

    Coconut tipped to be next big export commodity in Ghana after cocoa – African Eye Report

    Coconut tipped to be next big export commodity in Ghana after cocoa – African Eye Report

    Woodfield’s claims of $5.7m product volumes shortfall in tanks unsubstantiated – Tema Oil Refinery

    Woodfield’s claims of $5.7m product volumes shortfall in tanks unsubstantiated – Tema Oil Refinery

    Tullow Oil commences multi-Well Drilling campaign in Ghana

    Tullow Oil commences multi-Well Drilling campaign in Ghana

  • SHOWBIZ
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    When Nana Ama McBrown Met Prez Akufo Addo – PHOTO

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    Shatta Wale Is Depressed – Nhyira FM’s Ruthy Speaks On His Retirement From Music

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    Rising Afrobeat Sensation JO-EL SII Set To Release His Debut EP

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    “I Will Never Depart From Highlife” – Kumi Guitar

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  • VIDEOS
    EC’s Election Results: Nana Akufo-Addo is President-Elect – Election 2020 on JoyNews (9-12-20)

    EC’s Election Results: Nana Akufo-Addo is President-Elect – Election 2020 on JoyNews (9-12-20)

    MP Elect’s – GH Elections2020 [VIDEO]

    MP Elect’s – GH Elections2020 [VIDEO]

    [VIDEO] NDC REJECTS EC PRESIDENTIAL DECLARATION……….

    [VIDEO] NDC REJECTS EC PRESIDENTIAL DECLARATION……….

    FULL VIDEO: President Buhari Addresses Nigerians On The #EndSARS Protests

    FULL VIDEO: President Buhari Addresses Nigerians On The #EndSARS Protests

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    This is the End of Corruption in Nigeria | Endsars Candle Night in Lagos

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  • RELIGION
    The resurrection of Christ is a big sign of victory for humanity-Apostle David Mintah Addy

    The resurrection of Christ is a big sign of victory for humanity-Apostle David Mintah Addy

    Popular Ghanaian Pastor caught stealing a corpse from a cemetery

    Popular Ghanaian Pastor caught stealing a corpse from a cemetery

    Mahama is cursed, he can only become President again if he consults me – Owusu Bempah

    Mahama is cursed, he can only become President again if he consults me – Owusu Bempah

    We have ‘Good Friday’ because a goodman died – Otabil

    We have ‘Good Friday’ because a goodman died – Otabil

    Pastor Chris slams pastors who are endorsing Covid-19 vaccine

    Pastor Chris slams pastors who are endorsing Covid-19 vaccine

    Leave men of God with private jets alone – Bishop Charles Agyinasare to critics of wealthy pastors

    Leave men of God with private jets alone – Bishop Charles Agyinasare to critics of wealthy pastors

    God will judge rich church members who allow their pastor to be poor – Bishop Agyinasare

    God will judge rich church members who allow their pastor to be poor – Bishop Agyinasare

    ICGC donates 105,000 nose masks to psychiatric hospitals

    ICGC donates 105,000 nose masks to psychiatric hospitals

    IGP cautions churches ahead of Easter: Hold 2-hour service

    IGP cautions churches ahead of Easter: Hold 2-hour service

  • WORLD NEWS
    Tigray crisis: The Weeknd donates $1m to Ethiopians in conflict

    Tigray crisis: The Weeknd donates $1m to Ethiopians in conflict

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    Russia’s President passes law that may keep him in office until 2036

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    Man forgives mall manager for clothing ban

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  • AGRICULTURE
    We have no excuse as a country to fail in Agriculture – John Dumelo

    We have no excuse as a country to fail in Agriculture – John Dumelo

    Coconut tipped to be next big export commodity in Ghana after cocoa – African Eye Report

    Coconut tipped to be next big export commodity in Ghana after cocoa – African Eye Report

    Poultry Youth Mentorship and Business Bootcamp held

    Poultry Youth Mentorship and Business Bootcamp held

    Agroecology movement is not against modern technologies – Peasant farmers

    Agroecology movement is not against modern technologies – Peasant farmers

    Agrihouse Foundation launches Gold in the Soil Awards

    Agrihouse Foundation launches Gold in the Soil Awards

    The Ghanaian Farmer partners Multimedia Group to hold Agric conference

    The Ghanaian Farmer partners Multimedia Group to hold Agric conference

    Farmers in Ejura say taboos must be respected

    Farmers in Ejura say taboos must be respected

    12,000 women in agriculture benefit from Plan International

    12,000 women in agriculture benefit from Plan International

    Ghana has no excuse not to succeed in the agric sector – Dumelo

    Ghana has no excuse not to succeed in the agric sector – Dumelo

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Ghana’s economy recovering faster than expected – Ernest Addison

Extranewsgh.com by Extranewsgh.com
25 November 2020
in BUSINESS
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Ghana’s economy recovering faster than expected – Ernest Addison
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Governor of the Bank of Ghana (BoG) Dr Ernest Addison has said evidence from high frequency indicators – the CIEA outturn for October 2020, improved consumer and business confidence, and strong liquidity flows – have helped to deliver a faster than expected recovery in economic activity.

These flows, he said, include payments to contractors, Special Deposit Taking Deposit Institutions (SDI) depositors, clients of the Security and Exchange Commission (SEC) licenced fund managers, micro and small business loans provided by government through the National Board for Small Scale Industries, and the policy and regulatory reliefs to banks and SDIs.

Speaking at the Monetary Policy Committee (MPC) press comferfenc in Accra on Monday, the Governor said “Based on these observations, the Bank maintains that growth will perform better than earlier projected.”

He added “The Committee noted that performance of the banking sector remains strong. The sector recorded strong growth in deposits and investments and solvency indicators were significantly higher than regulatory thresholds. Pandemic tailrisks, that is, pandemic-related impact on non-performing loans, would require continuous supervisory vigilance.

“On budget implementation, the Committee noted that the expansionary fiscal stance to address the COVID-19 pandemic has also led to deviation from the path of fiscal consolidation. Looking ahead to 2021, a decisive fiscal correction plan would be needed to contain fiscal risks in the medium-term.

“The Committee noted that inflation has eased following the spike to 11.4 percent. At 10.1 percent for October 2020, inflation is almost at the upper band target.

“The fiscal and monetary policy measures, which have increased liquidity in the economy, appear not to be impacting inflation, partly due to the existence of the output gap. As a result, the Committee expects these conditions to support inflation to return to its central path by the second quarter of 2021.

“To conclude, the Committee noted that macroeconomic conditions have generally improved relative to conditions at the time of the last MPC meeting in September 2020.

“Global conditions continue to be supportive, domestic inflation is easing, growth prospects are improving, crude oil prices have stabilized, monetary aggregates have expanded but with minimal impact on inflation, the current account deficit is stable, remittances inflow has remained firm, the exchange rate has been stable and reserve buffers continue to remain strong.

“The key risks are the evolution of the budget deficit and the financing needs to support budget implementation and the uncertainty surrounding the pandemic.

“Under the circumstances, the Committee’s decided to maintain the policy rate at 14.5 percent.”

 

 

 

Source: 3 News

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