The real growth rate in Ghana will reduce by 0.3% to 6.2% in 2020.
This is against the previous 6.5% forecast for this year. However, 6.2% is still good for the country.
According to the rating agency, Fitch, “We, therefore, expect real Gross Domestic Product to expand by 6.2% in 2020, down from 6.5% previously.
It explained that given a slowdown in hydrocarbons production growth, it expects headline real GDP growth of Ghana to decelerate slightly, which has been a key driver of headline expansion since 2016.
Oil accounts for around one-third of Ghana’s goods exports and is thus a key generator of foreign capital
The World Bank is projecting economic growth of 6.8% for Ghana in 2020, according to its January 2020 Global Economic prospects Report.
This is against the 7.5% forecast by the International Monetary Fund for this year.
Story by Naa Anyema Collison