Ghana’s real GDP growth to stay significantly below pre-crisis level till 2029 – Report

Ghana’s real GDP growth is projected to remain below pre-crisis levels until 2029, with an average growth rate of 4.4% from 2024 to 2029.

The Institute for Fiscal Studies (IFS) warns that this sluggish growth will negatively impact job creation and unemployment, particularly among the youth.

IFS urges the government to prioritize key sectors, particularly agriculture, which has the potential to drive economic growth and employment due to Ghana’s favorable climate and abundant agricultural land.

Additionally, IFS calls for restructuring Ghana’s external sector, highlighting that merchandise exports have had little effect on stabilizing the cedi.

It notes that Ghana’s reliance on international borrowing to manage currency depreciation is unsustainable, advocating for strategic interventions in trade and economic policy.