Analysis by Region - Emerging Markets - Ghana

Analysis by Region - Emerging Markets - Ghana



Recently released figures indicate that Ghana's economy expanded notably in Q1 2024, with significant contributions from the industrial sector in particular. Agricultural activities also experienced growth, while the services sector progressed more modestly. Considering this strong economic performance, we have adjusted our growth projection upwards. The industrial sector, which has underperformed in recent years, is showing renewed vitality due to a resurgence in oil production and sustained gold output. However, sticky inflation is anticipated to limit consumer spending growth. Ultimately, we now predict that real GDP growth will reach 4.2% this year.


Ghana: higher growth projected after robust performance in K1
Forecast overview
Recent developments
Short-term outlook
Key drivers of our Short-term Forecast
Economic risk
Economic risk evaluation
Background
Economic development
Structure of the economy
Balance of payments
Policy and Politics

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