Senior country risk analyst of Fitch Solutions, William Atwell has said Ghana despite the Covid-19 pandemic recorded a Gross Domestic Product (GDP) growth of 1.8 per cent last year.
Ghana on the back of the recorded growth last year was tagged as one of the world’s growth outperformers by Fitch Solutions in its 2021 Sub Saharan Outlook Report.
Speaking in an interview, Mr Atwell noted Ghana is expected to grow by some 4.8 per cent in real GDP in 2021.
The projected growth he said is on the back of a robust rebound in private consumption and investment in the upcoming quarters of 2021.
“Based on our data for last year, Ghana did not go into a recession despite covid, so Ghana is growing on a strong base and we expect a robust rebound in private consumption and investments in the upcoming quarters,” he said.
“Also supporting the outlook are relatively strong macroeconomic conditions,” Mr Atwell added.
Ghana for the second and third quarter of 2020 recorded negative GDP growth of 3.2 per cent and 1.1 per cent respectively.
The negative growth was led by the industry and services sector with only the agriculture sector recording a positive growth of 8.3 per cent.
Despite the 1.8 per cent overall GDP growth assertion made by Fitch Solutions, the nation’s government agency mandated with the computing, recording and tracking of the GDP – Ghana Statistical Service (GSS) – is yet to publish the fourth quarter growth of the nation to ascertain the 1.8 per cent growth by Fitch Solutions.
