Search Results for: Fitch Solutions

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2026 Mid-Year Review Targets: Is Gov’t Choosing ‘Optical Credibility’ to Save Face of the Budget
News

Improved Stability Lifts Ghana’s 2025 Growth Forecast — Fitch Solutions

If Cocoa Fails and Gold Drops, Ghana Could Be in Serious Trouble – Joe Jackson
News

Fitch Solutions: Ghana to Stick with IMF Programme Amid Fiscal Efforts

Ghana’s Strong Q1 Growth Compels Fitch Solutions to Revise 2025 Growth Target Upward from 4.2% to 4.9%
Business & Economy

Ghana’s Strong Q1 Growth Compels Fitch Solutions to Revise 2025 Growth Target Upward from 4.2% to 4.9%

Fitch Solutions
Business & Economy

Fitch Solutions Criticizes NDC’s Proposed Tax Cuts, Urges Focus on Fiscal Consolidation

While the Fate of AGOA Hangs in the Balance, BoG Governor Remains Optimistic of Renewal
Business & Economy

Ghana to See Limited Impact from US Tariffs Amid Wider Sub-Saharan Exposure, Says Fitch Solutions

Ghana’s Inflation to Rise Above BoG Target in Early 2027, But ‘Runaway’ Levels of Old Unlikely - Fitch
Business & Economy

Super El Niño: A Major Risk Threatening to Derail Ghana’s Economic Recovery – Fitch Says

Is Ghana's Resilience Taking Shape? Fitch Touts Economy as 'Relatively Insulated' from Middle East Crisis
Business & Economy

Is Ghana’s Resilience Taking Shape? Fitch Touts Economy as ‘Relatively Insulated’ from Middle East Crisis

Record Cocoa Prices Unlikely to Deliver Economic Windfall for Ghana and Côte d’Ivoire - Fitch Solutions
Business & EconomyMarketsNews

Record Cocoa Prices Unlikely to Deliver Economic Windfall for Ghana and Côte d’Ivoire – Fitch Solutions

Gov't Confident Ghana’s Inflation Won’t Exceed Target Band of 6 & 10 Even if Middle East Conflict Escalates
Business & Economy

Fitch Solutions Maintains Ghana’s 2025 GDP Growth at 4.2%, Citing Strong Gold Exports

Ghana’s Inflation to Rise Above BoG Target in Early 2027, But ‘Runaway’ Levels of Old Unlikely - Fitch
Business & Economy

Ghana’s Inflation to Rise Above BoG Target in Early 2027, But ‘Runaway’ Levels of Old Unlikely – Fitch

Business & Economy

Fitch Solutions Keeps Ghana’s 2024 Growth Forecast at 4.3%

Business & Economy

Ghana’s Unemployment Rate Projected at 4.0% Through 2024 – Fitch Solutions

Ghana’s Strong Q1 Growth Compels Fitch Solutions to Revise 2025 Growth Target Upward from 4.2% to 4.9%
News

Ghana’s Construction Sector Eyes 7.6% Growth in 2025 Amid Strong Post-Crisis Recovery-Fitch Solutions

Ghana’s headline unemployment rate is expected to hold steady at 3.1% through 2025 and 2026, according to a new report by Fitch Solutions' Country Risk team. However, the seemingly low rate masks a deeper set of structural issues within the Ghanaian labour market issues that continue to weigh on the country’s economic resilience and social fabric. Fitch’s projection signals a continuation of the gradual upward trend observed since 2017, suggesting that while unemployment may appear stable, underlying vulnerabilities in labour quality and workforce sustainability remain unaddressed. “A significant constraint stems from the country’s low life expectancy estimated at just 64.3 years which dampens the productive capacity of the labour force,” the report stated. The short life expectancy, Fitch notes, is a result of chronic underinvestment in public healthcare and a persistent burden of waterborne diseases and illnesses such as HIV/AIDS. These health challenges erode long-term productivity and workforce stability. Compounding the issue is a widening skills gap. The report highlights a growing reliance on expatriate professionals across key sectors, as the local talent pool struggles to meet demand for highly skilled labour. This talent deficit limits Ghana’s ability to drive innovation and growth from within. Contradiction with Local Data Fitch’s unemployment forecast stands in stark contrast to data published by the Ghana Statistical Service (GSS). According to the GSS Q3 2023 Labour Statistics report, Ghana’s average unemployment rate for the first three quarters of 2023 stood at a significantly higher 14.7%. The report also underscored persistent gender and urban-rural disparities: Gender Gap: Female unemployment has consistently outpaced male rates, with the gap widening through 2023. Urban-Rural Divide: Urban unemployment was nearly double that of rural areas in Q2 and Q3 of 2023. These discrepancies raise questions about the methodology used in various labour statistics and highlight the complexity of capturing Ghana’s employment realities, particularly in an economy heavily marked by informality and underemployment. Ghana’s job market is a flashpoint for public discontent. A recent 2024 Afrobarometer survey identified unemployment as the top national concern—ranking higher than infrastructure deficits and healthcare gaps. This sentiment reflects deep frustration, particularly among the youth, who face limited prospects for formal employment despite high education levels. “While the unemployment rate may appear modest by international standards, the data masks underemployment and informality both of which are endemic in Ghana’s economy,” the Fitch report warns. Indeed, a vast portion of Ghana’s working population remains trapped in low-income, informal jobs with little social protection or upward mobility. Amid these structural imbalances, Fitch advocates for long-term reform to boost employment opportunities and create a more inclusive economy. Public sentiment remains cautiously optimistic, with support for government-led initiatives aimed at improving access to education, healthcare, and job opportunities. However, Fitch warns that without meaningful change, Ghana’s potential demographic dividend may become a demographic burden. The need for a coherent jobs strategy one that addresses both formal employment creation and the quality of work is more urgent than ever. Tackling informality, enhancing vocational training, and investing in public health could yield the workforce transformation Ghana requires for inclusive and sustainable growth. As Ghana holds steady on paper, the real labour market story lies beneath the surface demanding urgent attention from both policymakers and private sector stakeholders.
News

Ghana’s Unemployment Rate to Remain at 3.1% in 2025, But Underlying Challenges Persist – Fitch Solutions

Centre for Policy Scrutiny Proposes Actionable Measures for Gov’t to Sustain Cedi’s Recent Stability
Business & Economy

Ghana’s Household Spending Set to Grow 2.5% in 2025, Reaching GH¢129.7 Bn – Fitch Solutions