WORLD´S FASTEST GROWING ECONOMIES in 2018 -World Bank
Latest figures from the World Bank shows GHANA leading the pack of top ten growing economies worldwide with an impressive 8.3% growth rate.
Six of ten economies forecast to grow the most in 2018 are in Africa.
Much of the successes chalked by Ghana were birthed out of prudent initiatives which included measures to stimulate the private sector, a monetary policy that will stabilise the currency and reduce significantly the cost of borrowing in addition to a raft of tax cuts carefully nursed to bring relief to and harness a buoyant business environment.
A hard pressing towards economic recovery has shown great prowess in restructuring the institutions of governance, modernising agriculture to enhance its productivity, rolling out a clear industrial policy, and rationalising the financial sector so that it supports growth in agriculture, manufacturing, industry and commerce.
Missing are three of the continent’s giants: Nigeria, ANGOLA and SOUTH AFRICA, of which the latest two are about to rebound.
Regardless of size or growth rate, Africa needs to pay more attention to debt management in 2018 and transparency.