Ethiopia takes over Ghana as Africa’s fastest growing economy


Ethiopia has overtaken Ghana as Africa’s fastest growing economy.

According to International Monetary Fund, Ghana economy is expected to experience a 6.3% gain this year.

The figure is lower than the 8.9% forecast in October, and is also less that the raised 7.4% estimate for Cote d’Ivoire and the 8.5% prediction for Ethiopia.

Ghana’s growth booms and busts have been closely linked to oil since it became a producer in 2010.

Ethiopia, whose gross domestic product is almost double Ghana’s, has drawn investors including General Electric Co., Johannesburg-based Standard Bank Group and hundreds of Chinese companies..

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