Accra: Fitch Solutions, through its subsidiary BMI, a British multinational research firm, has maintained its forecast for Ghana's Gross Domestic Product (GDP) growth for 2025 at 4.2 percent. This projection is slightly higher than the four percent forecast announced by the Government in its 2025 Budget as well as the International Monetary Fund's (IMF) April 2025 Regional Economic Outlook.
According to Ghana News Agency, the report emphasizes that global trade tensions are expected to be counterbalanced by a rise in gold prices, which will enhance Ghana's export revenues. The Ghana Country Risk Report highlights that the surge in gold prices, along with reduced energy costs, is anticipated to drive the current account surplus to a record 6.9 percent of GDP in 2025. This surplus is expected to bolster the country's reserves and contribute to the stabilization of the cedi.
Fitch Solutions also notes that while growth is predicted to slow in 2025 compared to a robust 5.7 percent in 2024, this deceleration is attributed to the cessation of election-related fiscal stimulus, plateauing oil production, and tight credit conditions. Mr. St©phane Roudet, IMF Mission Chief for Ghana, expressed optimism about the future economic stabilization during a roundtable media engagement with Ghanaian journalists at the sidelines of the recently concluded IMF/World Bank Group spring meetings in Washington, DC, USA.
Mr. Roudet emphasized the importance of adhering to the planned targets of the US$3 billion Extended Credit Facility (ECF) program, which aims to restore macroeconomic stability, ensure debt sustainability, and stimulate economic resilience. He stressed the necessity of continued commitment to the program's objectives over the coming years.
Dr. Cassiel Ato Baah Forson, Ghana's Finance Minister, reaffirmed the government's commitment to meeting IMF program targets while working towards restoring the country's creditworthiness. In his presentation of the 2025 budget earlier this year, Dr. Forson outlined plans to implement a 24-hour economy policy aimed at addressing structural economic challenges and promoting growth and job creation by developing an integrated, efficient, and export-driven industrial economy.