Fitch Solutions, the research arm of Fitch Ratings has said Ghana’s economy will grow by 4.8 per cent of real GDP in 2021.
Ghana’s growth rate will be higher than that of the Economic Community of West Africa States (ECOWAS) sub region of 4.1 per cent.
“West African states will grow by an average of 4.1 per cent in 2021, as emerging markets including Côte d’Ivoire, Ghana and Senegal bounce back strongly,’ said William Atwell, Senior Country Risk Analyst within the Sub-Saharan Africa (SSA) team.
Fitch Solutions said Ghana’s growth rate will be the result of two things – rising demand for the country’s commodity exports and supportive macroeconomic conditions which will facilitate higher investment and private consumption.
“In Ghana, we expect real GDP to grow by 4.8 per cent in 2021, buoyed by rising demand for the country’s commodity exports and supportive macroeconomic conditions which will facilitate higher investment and private consumption,” read Fitch Solutions macroeconomic update report.
Fitch also said Ghana will become a SSA regional outperformer this year, as economic recovery is likely to gather pace for the rest of the year.
