The World Bank has revised Ghana’s GDP growth projection slightly downward from 4% to 3.9%, citing global trade and tariff-related uncertainties.
According to Professor John Gatsi, this adjustment is no cause for alarm, as variations in economic projections are common and reflect the prevailing conditions during a fiscal period.
He emphasized that stable economic growth is crucial to driving revenue generation.
Ghana’s economy has historically demonstrated resilience—often surpassing external forecasts for the country and the broader Sub-Saharan African region.
The minor revision by the World Bank underscores the importance of reinforcing economic fundamentals. Professor Gatsi stressed that Ghana’s focus on economic stability, fiscal responsibility, fair tax systems, and productive debt management provides a strong foundation for long-term growth.
He also stressed that economic stability not only supports effective tax administration but fosters a predictable environment that encourages investment in infrastructure and social programs.
This, in turn, enhances public investment, consumption reliability, and purchasing power—ultimately boosting revenue mobilization.
As the year progresses, he noted, these projections could be revised again depending on domestic and global economic developments.
Nonetheless, Ghana’s commitment to sound macroeconomic policies and accountability mechanisms positions the country for sustained growth and improved economic outcomes.