This Ghana Country Note is extracted from the 2016 African Economic Outlook (AEO), an annual publication of the African Development Bank in conjunction with the OECD Development Centre and the United Nations Development Programme.

The 2016 AEO was based on the theme, “Sustainable Cities and Structural Transformation”. According to the chapter, Ghana’s economy is projected to grow by 5.8% in 2016 and 8.7% in 2017 based on prevailing macroeconomic stability and continued implementation of strict monetary and fiscal policies in the country which began in 2015. It however states that the forecasted growth depends on maintaining ongoing fiscal consolidation measures, resolution of the power crisis, operation of new oil and gas wells and improved cocoa harvest and gold production.