Boston, MA -- (ReleaseWire) -- 04/15/2014 -- The Ghanaian economy will enjoy strong economic growth over the long term, propelled by the nascent Oil & Gas sector.
Ghana's abundant natural resources, fast long-term growth trajectory and relative political stability augur for strong foreign investment inflows.
The current account deficit and fiscal deficits will remain key structural weaknesses in the economy.
Ghana's reputation for political stability remains intact following the December 2012 elections and the nation is widely regarded as a safe place to do business.
Major Forecast Changes
We have revised our 2014 real GDP growth forecast down to 5.1% from 6.4% previously, owing to severe currency weakness, a sharp interest rate hike and new rules governing the use of foreign exchange.
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Key Risks To Outlook
The Ghanaian cedi remains vulnerable amid the sizeable current account deficit and could depreciate more swiftly than we anticipate.
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