Ghana’s economic growth surprising - Razia Khan

The Chief Economist of the Standard Chartered Bank, Ms Razia Khan, has indicated that the country’s economic growth for 2017 came as a surprise to most economists as the growth far exceeded expectations.

Stressing more on the country’s non-oil GDP which grew by 4.7 per cent, she said that was not expected as the country was going through significant fiscal adjustments.

Ms Khan said this when she addressed the media on the country’s economy in Accra.

“In terms of our own focus and expectations, Ghana was going through a very significant macro-economic rebalancing and very significant fiscal adjustments; and normally when fiscal targets are marked by expenditure having to be cut because of revenue shortfalls, the thinking will be that growth will be quite moderate so the headline growth in the economy really surprised us.

“We did not expect such a robust performance from the non-oil economy given the fiscal adjust