Ghanaian inflation rate continues to fall

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An increase in agricultural output has been cited as the main contributory factor in Ghana’s inflation rate falling for the fourth consecutive month.

The inflation rate fell to 8.6% in June, the joint lowest in 19 years. It is seen by many as yet another positive sign for potential investors in a country whose star is certainly on the rise.

A predicted 14% rise in the Ghanaian economy was also announced recently. This is attributed to Ghana beginning production of oil for export purposes at the end of 2011. There have been other encouraging, if rather vague, bulletins on financial growth and stability for the African nation in the near future.

A statement which is due next month from the Ghanaian finance ministry is expected to focus on which areas spending will take place in to help boost growth. That follows a recent announcement that expenditure is expected to rise in the near future.

The country has also targeted a cut in its budget deficit that should take it to as lows as between 5%-5.5%. That follows a recent high of 6.8% from last year.

Ghana will also benefit from a boost to their agriculture industry and a change in the way they produce agricultural output across the country. A national program established last year offered technical support to farmers which included training and the use of better quality seeds.

The reasons are certainly beginning to stack up for potential investors to take note of Ghana. If the rate of inflation continues to fall, many global companies may no longer be able to ignore the potential for profit which the nation offers.

Transfer Money to Ghana

If you are looking to invest in Ghana, think carefully about how you are planning to transfer money to Ghana. Many foreign currency exchange rates quoted by banks are not as good as the exchange rates available through specialist currency dealers.

If you are sending money to Ghana, which you will have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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Ghanaian inflation rate continues to fall

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