The economic development of ghana ghana is an african country located on the western side of africa its neighbors are burkina faso to the north, togo to the east, the atlantic ocean to the south, and cote d'ivoire to the west it has a population of 18,100, 703 and a population density of 197 people per square mile.
Agriculture could be a leading sector for a more diversified economy, according to the latest economic update for the country ghana at-a-glance ghana sits on the atlantic ocean and borders togo, cote d'ivoire, and burkina faso. Ghana’s economic freedom score is 560, making its economy the 122nd freest in the 2018 index its overall score has decreased by 02 point, with lower scores for the property rights and labor freedom indicators outweighing improvements in judicial effectiveness, government spending, and fiscal health.
Largely owing to high capital imports for the development of infrastructure and the oil sector the current account for ghana has been in deficit for the last decade the deficit is expected to reach 116% of gdp in 2013. Recent economic developments ghana’s economic performance improved significantly in 2017 after a difficult 2016 the fiscal deficit dropped to 6% of gross domestic product (gdp) in 2017 from 93% in 2016, underpinned by serious fiscal consolidation efforts. Usaid economic growth programs in ghana enhance the competitiveness of agricultural firms in domestic, regional and international markets in addition, usaid is working with the government of ghana to strengthen management of the oil and gas sector economic growth and trade private sector development.
Recent economic policy has aimed at correcting basic problems in every phase of the economy: unemployment (20% in 1997), low productivity, high production costs, the large foreign debt ($596 billion in 2001), low savings and investing, inflation (25% in 2001), and high private and government consumption.
Ghana's economic strategy since 1992 has focused on macroeconomic stabilization and structural reform in a democratic environment within ghana, a rich economic and political debate informs and influences government policies newspapers and magazines keep the public aware of current economic affairs. The world bank’s world development report, published annually since 1978, is an invaluable guide to the economic, social, and environmental state of the world today each report provides in-depth analysis and policy recommendations on a specific and important aspect of development.
The economy of ghana has a diverse and rich resource base, including the manufacturing and exportation of digital technology goods, automotive and ship construction and exportation, and the exportation of diverse and rich resources such as hydrocarbons and industrial minerals these have given ghana one of the highest gdp per capita in west africa.