Ghana’s second quarter GDP growth rate has been projected at 8.9 percent year-on-year by Goldman Sachs, the global investment bank.
The projection was contained in a note to clients ahead of the official release of second quarter GDP estimates by the Ghana Statistical Service on Wednesday.
“We expect GDP to increase from +3.1%yoy in 2021Q1 to +8.9%yoy in 2021Q2, as high frequency indicators show a continued increase in activity. Looking forward, we expect GDP growth to average at +5.3%yoy in 2021,” said the bank’s research analysts.
“However, we also expect oil GDP to fall slightly from -16.2%yoy in 2021Q1 to -18.3%yoy, driven by the decline in oil production observed in Ghana in the past year,” the analysts added.