The Report: Ghana 2014

Download or read book The Report: Ghana 2014 written by Oxford Business Group and published by Oxford Business Group. This book was released on 2014-12-18 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economy has a history of strong government involvement and a legacy of socialist policies in the 1960s and 1970s, with statist companies involved in both energy and agriculture; yet, the country’s market is now among the more liberalised in the region. Ghana has a strong export profile, although it is somewhat dependent on commodities. It is the world’s second-largest exporter of cocoa, behind Côte d’Ivoire, and one of the continent’s largest gold producers, while new reserves of oil and gas have helped further expand its resource wealth. The economy saw expansion of 7.1% in 2013, while inflation reached 14.5% in March 2014. Although inflation and balance of payments remain the country’s biggest economic challenges, measures have been taken to strengthen the cedi and curb inflation.