The World Bank is optimistic a better management of Ghana’s economy would result in an appreciable gain of growth potentials in 2017, and a better increase in 2018.
Country Director of Ghana, Henry Kerali, says better performance of commodity prices is one of the factors that would drive growth in the economy.
“Our forecast of commodity prices is a gradual increase over the medium term, so despite the drop in the last couple of days we forecast in the medium term a gradual increase in commodity prices.â€
He also believes Ghana has a significant revenue potential in oil, gas gold, all of which are expected to increase.
The world financial body is anticipating improved macro-economic management would lead to the release of funds from reduction in the expenditure on nondiscretionary items such as salaries and interest payment. These funds can then be channelled into other productive sectors for economic growth.