Ghana’s expected growth rate of 4% reasonable and achievable – Deloitte

Deloitte Ghana considers the projected 4.0% GDP growth for 2025 reasonable but warns of challenges due to fiscal tightening and spending cuts. These measures, while promoting macroeconomic stability, could slow short-term growth by limiting policy implementation.

Deloitte supports the government's plan to reduce budget deficits, which averaged 7.5% from 2021-2024, and notes the projected 3.1% deficit signals fiscal prudence amid the IMF Economic Credit Facility programme.

Despite spending cuts, economic expansion remains critical to tackling rising unemployment. Deloitte commends the government's focus on key sectors for job creation but cautions that achieving growth while ensuring stability will be difficult.

It highlights growing energy sector debts as a major risk to economic expansion, urging swift action to address arrears and maintain a stable power supply essential for industrial growth.