IMF report predicts good times for economy in 2016

A new report by the  IMF on Ghana has predicted some exciting times ahead for the economy.

According to  figures released by the  Washington lender, economic  growth will pick up next year while inflation is also expected  reduce substantially over the next two years. 

According to the report, which was released following  the  approval  of the 918 million dollars bailout facility by the board of IMF,  economic growth will increase to  6.4 percent in 2016 from the current projected 3.5 percent  this year,  while Inflation  is likely to end the year at 12 percent  and decline further to  10.2 percent in 2016.  

The country's gross  international  reserves will also improve substantially over the next two years to reach,  7.5 billion dollars in 2017.

The Revenue and Expenditure numbers, according to the IMF, are also expected to see some significant improvements.

However, according to some economists if these projections by the IMF are anything to go by, then things might not be that bad in 2016 on the economic front considering that next year is an election year.

Election years are usually fraught with challenges for the economy such as overspending and reduced production.

Also, investors usually pull their funds during election years because of the uncertainty and fear of political instability.

These numbers, according to the economists,  could also convince investors  that prospects for the economy are good and hence cause them to invest in Ghana irrespective of  the fact that 2016 is an election.