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Ghana Business Forecast Report Q2 2013


The Ghanaian economy will enjoy strong economic growth over the medium term, propelled by the nascent Oil & Gas sector. Ghana’s abundant natural resources, fast growth trajectory and relative political stability augur for strong foreign investment inflows. The current account deficit and fiscal deficits will remain key structural weaknesses in the economy. Ghana’s reputation for political stability remains intact following the December 2012 elections and the nation is widely regarded as a safe place to do business.

Major Forecast Changes Following the revelation that the budget deficit swelled to more than 12.2% of GDP in 2012, we are now forecasting larger budget deficits than previously for the coming years.

Key Risks To Outlook The Ghanaian cedi remains vulnerable amid the sizeable current account deficit and could depreciate more swiftly than we anticipate. Mismanagement of oil revenues – perhaps stemming from insufficientinstitutional capacity – could dent investor perceptions.

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