2013-01-01 00:19:53 - Ghana Business Forecast Report Q4 2012 - a new country guide report on companiesandmarkets.com

The Ghanaian economy will enjoy strong economic growth over the medium term, propelled by the nascent oil and 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; the fiscal deficit and debt levels (both domestic and external) have stabilised and are therefore less concerning.

The December presidential and parliamentary elections will be hotly contested, and it is too close to predict whether the incumbent National Democratic Congress (NDC) or opposition New Patriotic Party will emerge victorious. Following the unexpected death of President John Atta Mills, the NDC may get some sympathy votes, but newly installed President John Dramani Mahama will have

 

 

his work cut out in terms of garnering support, given that he has only a few months to campaign.

Major Forecast Changes

No major forecast changes.

Key Risks To Outlook

The budget deficit could balloon more than we forecast due to profligate spending, especially in the run-up to the December elections. Mismanagement of oil revenues – perhaps stemming from insufficient institutional capacity – could dent investor perceptions.

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