World Bank lowers Ghana’s economic growth

Ghana’s economy is expected to grow at 7.4 percent this year, that’s according to the World Bank.

This is 0.4 percent lower than government target of 7.8 percent.

In its 2014 Global Economic Prospect report, the Breton Wood institution said Ghana’s growth will further drop to 7.3 and 6.7 percent respectively in 2015 and 2016.

The World Bank also projected 5.3 percent GDP for sub-Sahara Africa this year.

It expects robust domestic demand to continue to support growth in the medium term, despite tighter global financial conditions.

The report however warned that the main risk to the outlook stems from external as well as domestic factors.