Fitch Solutions Forecasts 4.2% Growth for Ghana's Economy in 2025
Accra, Ghana - 02 May, 2025 - Ghana's economy is expected to expand by 4.2% in 2025, according to Fitch Solutions, a UK-based research firm. This forecast slightly surpasses estimates from the International Monetary Fund (IMF) and the World Bank, which predict growth rates of 4% and 3.9%, respectively.
The positive outlook is attributed to historically high gold prices, anticipated to shield Ghana's economy from the adverse effects of global trade tensions and slowing international demand. Elevated gold prices are expected to bolster foreign exchange reserves, strengthen government revenues, and stabilize the Ghanaian cedi.
Fitch Solutions notes that Ghana's limited exposure to US trade restrictions, with gold and crude oil exports exempt from tariffs introduced by the Trump administration, contributes to the country's resilience. The US accounts for only 4-5% of Ghana's total exports, while China, Switzerland, and the Netherlands are more significant trading partners.
The forecast comes as Ghana navigates a delicate economic recovery following its 2022 domestic debt restructuring and ongoing engagement with the IMF under a $3 billion Extended Credit Facility program.
Fitch Solutions believes the macroeconomic benefits of high gold prices, combined with prudent central bank interventions, will maintain exchange rate stability and investor confidence in 2025.
Source: Lead News Online
