Standard Bank Forecasts Ghana’s GDP Growth at 5.4% for 2025

Standard Bank has projected Ghana’s GDP will grow by 5.4% in 2025, with a notable increase to 5.8% in 2024. Jibran Qureishi highlighted ongoing strength in the mining sector; however, challenges remain in sectors such as manufacturing and agriculture. There are also concerns regarding the Ghanaian cedi’s weakening against the US dollar due to structural issues in foreign exchange management.

According to Standard Bank, Ghana’s Gross Domestic Product (GDP) is expected to rise by 5.4% in 2025, showcasing ongoing economic growth. This assertion comes from Jibran Qureishi, the Head of Africa Research at Standard Bank Group, during the Stanbic Economic Series webinar, titled “The Economy Under a New Era.” He pointed to various factors contributing to this positive forecast.

In conclusion, Ghana is anticipated to enjoy a sustained GDP growth trajectory, driven largely by the mining sector, particularly gold. While there are challenges in non-mineral sectors, the recovery in mining operations and projected growth indicate resilience. However, addressing underlying issues such as energy sector arrears and maintaining macroeconomic stability will be critical for continuing this momentum.

Original Source: www.ghanabusinessnews.com