Developing countries face a series of tough challenges in 2015, including the looming prospect of higher borrowing costs as they adapt to a new era of low prices for oil and other key commodities, resulting in a fourth consecutive year of disappointing economic growth this year, says the World Bank Group’s latest Global Economic Prospects […]
The World Bank has projected 4.8 percent growth for Ghana this year, as against 3.9 percent estimate by the government.
The World Bank Group’s Global Economic Prospects (GEP) report says developing countries should see an uptick in growth this year, boosted in part by soft oil prices, a stronger U.S. economy, continued low global interest rates, and receding domestic headwinds in several large emerging markets.
Faced with weaker export prospects, an impending rise in global interest rates, and fragile financial market sentiment, developing countries including Ghana need to rebuild fiscal buffers to support economic activity in case of a growth slowdown, says the new edition of Global Economic Prospects, released by the World Bank Group.
