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Ghanaian economy will enjoy strong economic growth


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 will remain a key structural weakness, while the fiscal deficit and debt levels (both domestic and external)have stabilized and are therefore of less concern.

The budget deficit could balloon more than we anticipate due to profligate spending, especially in the run-up to 2012 elections. Mismanagement of oil revenues – perhaps stemming from insufficient institutional capacity – could damage investors’ perceptions.

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