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Analysis by Region - Emerging Markets - Ghana

Publisher Oxford Economics
Published Jan 09, 2025
Length 6 Pages
SKU # OFE19593725

Description

Ghana’s economy delivered a strong performance over the first three quarters of last year, expanding by 6.3% on a cumulative basis. Rising gold and oil production bolstered industrial activity over this period, while the ICT and financial sectors ensured robust growth in the services sector. The agricultural industry recorded modest growth due to volatility in the sector. Overall, we estimate that real GDP turned in growth of 6.2% last year, almost double the 3.0% recorded in 2023. We expect this momentum to persist throughout 2025, even though unfavourable base effects will guide economic growth rates lower. Ultimately, we forecast an expansion of 4.8% this year.

Table of Contents

6 Pages
Ghana: Growth prospects brighten
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

Pricing

Currency Rates
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