Mid-Year Budget Review: Half-year economic performance genuinely strong, but risks remain – PwC

Professional services firm, PwC, says the first-half year performance of the Ghanaian economy was genuinely strong, but not all of it should be read as a permanent shift in Ghana’s underlying macroeconomic risk profile.

In its assessment of the Mid-Year Budget Review, it said some of the improvement reflects disciplined fiscal control and debt restructuring progress, highlighting that some are the result of favourable base effects, delayed expenditure execution, lower domestic interest rates, stronger reserves, and relatively favourable first-half financial conditions.

We think inflation will push against the 10% upper limit—if not breach it slightly—by the end of the year, if the government accelerates infrastructure and education spend in the manner suggested by the Minister”, it mentioned.