#YouAsked Economy What countries have the largest economies in Africa? Source IMF: World Economic Outlook (2023) Short answer What countries have the largest economies in Africa? Nigeria and Egypt lead the way as Africa's biggest economies, each with a GDP of $477 billion, followed by South Africa with a GDP of $406 billion in 2022. ... Back Full answer
Economy Which are the three countries in Africa that are the most indebted? Source International Monetary Fund - Regional Economic Outlook: Sub-Saharan Africa: The Big Funding Squeeze Short answer Which are the three countries in Africa that are the most indebted? Eritrea (146% of its GDP), Cabo Verde (120% of its GDP), Mozambique and Zimbabwe (both 102% of their GDP) have the highest debt, according to the International Monetary Fund. ... Back Full answer
#YouAsked Economy Which is Africa’s fastest-growing economy? Source African Economic Outlook 2023 Short answer Which is Africa’s fastest-growing economy? Benin, Côte d’Ivoire, Ethiopia, Rwanda, and Tanzania are among the world’s 10 fastest-growing economies in 2023-24. ... Back Full answer
Economy Is Ghana one of the world’s heavily indebted poor countries? Source World Bank Heavily indebted poor countries (HIPC) Short answer Is Ghana one of the world’s heavily indebted poor countries? The International Monetary Fund and the World Bank’s Heavily Indebted Poor Countries (HIPC) initiative aims to ensure that “no poor country faces a debt burden it cannot manage”. Of the 42 countries on the list, 34 are in Africa – including Ghana. ... Back Full answer
Economy Which sector contributes most to Ghana’s GDP? Source Ghana Statistical Service (GSS): Newsletter - Quarterly Gross Domestic Product (QGDP) First Quarter 2023 Short answer Which sector contributes most to Ghana’s GDP? Services remained the largest sector of the Ghanaian economy in the first quarter of 2023, accounting for 47% of GDP at basic prices. Industry and agriculture accounted for32% and 21% of GDP respectively. ... Back Full answer
Economy What is Ghana’s inflation rate? Source Ghana Statistical Service (GSS): Consumer Price Index Bulletin October 2023 Short answer What is Ghana’s inflation rate? In October 2023, Ghana's annual inflation rate was recorded at 35.2%. This is a decline from the previous month's rate of 38.1%, and it is the lowest in 14 months. Despite the decline, Ghana’s inflation rate remains well above the central bank's target range of 6% to 10%. ... Back Full answer
Economy What is Ghana’s annual GDP growth rate? Source African Development Group: Ghana Economic Outlook Short answer What is Ghana’s annual GDP growth rate? Ghana’s real GDP growth - which accounts for inflation - slowed from 5.4% in 2021 to 3.3% in 2022 due to macroeconomic instability, global financial tightening and the spillover effects of Russia’s invasion of Ukraine. ... Back Full answer
Economy What is Africa’s unemployment rate? Source ILO: Mutually reinforcing crises have worsened the global employment divide Short answer What is Africa’s unemployment rate? The unemployment rate in 2023 is projected to be 11.2% in North Africa and 6.3% inSub-Saharan Africa. ... Back Full answer
Economy What is the unemployment rate in Ghana? Source World Bank: Unemployment, total (% of total labor force) (modeled ILO estimate) - Ghana Short answer What is the unemployment rate in Ghana? According to data from the World BankGhana's unemployment rate was 3.9% in 2022. ... Back Full answer