2018 Budget targets 6.8% growth in GDP

BY: Maxwell Akalaare Adombila

The government expects the economy to grow by 6.8 per cent of next year, slightly higher than the 6.3 per cent growth target set for this year.

Useful links Ghana Politics | Ghana Celebrity News | News in Ghana

2018’s growth target is due to be announced in the 2018 budget, which the Minister of Finance, Mr Ken Ofori-Atta, will present to Parliament Wednesday.

Of the 6.8 per cent growth rate, the GRAPHIC BUSINESS understands that the government expects non-oil GDP to end next year at 5.4 per cent, higher than the 2017 target of 4.6 percent.

The growth target for next year is expected to be anchored by strong growth in oil and gas, following the coming onboard of oil and gas production from the Sankofa Gye-Nyame Fields.

Ghana News Headlines

For today's latest Ghana news, visit Graphic Online headlines page Ghana news headlines.

The fields are configured to produce 45,000 barrels of oil per day and 170MMSCFD of gas.

That should augment produce from the Jubilee Fields, Ghana maiden commercial fields, and the Tweneboa-Enyera-Ntoume (TEN) project.

The paper understands that the fiscal deficit target will also be set at 4.5.

For current Ghana news | Ghana Business News | News in Ghana

The government will also aim to end the year with a surplus primary balance in excess of 1.7 per cent of goods and services produced, measured by GDP.