Ghana slowly retracing steps back to path of macroeconomic stability – Deloitte

Ghana is gradually returning to macroeconomic stability, driven by fiscal consolidation and debt restructuring efforts.

Deloitte projects the country’s economy to grow by 4.9% in 2024 and 5.1% in 2025, supported by debt sustainability measures, a stable currency, and easing inflation.

Lower inflation is expected to lead to interest rate cuts, reducing borrowing costs and boosting private consumption and investments.

The December 2024 elections resulted in a peaceful transfer of power, with former President John Mahama of the National Democratic Congress winning.

His policies are likely to emphasize fiscal discipline, infrastructure investment, and possibly renegotiating Ghana’s $3 billion IMF bailout.

Deloitte highlights potential risks, including commodity price volatility, currency shocks, debt restructuring delays, poor infrastructure, and social unrest stemming from economic hardships.