Ghana Strategy Support Program 2015 Brochure

Abstract

The Ghanaian economy grew at an average annual rate of roughly 8 percent between 2009 and 20141 amid rising fiscal and external imbalances. The country seems to be at a crossroads in its economic development. Despite having reached lower middle income status, it still heavily relies on agricultural and natural resources, with the sector still accounting for 41.5 percent of the labor force and nearly a third of gross domestic product. Average agricultural growth hovered around 4.0 percent between 2009 and 20141. Ghana must continue to invest in the agricultural sector to increase productivity and boost growth while at the same time facilitating the development of agro-industries to diversify agriculture rather than aiming for mere “self-sufficiency.”