Databank’s 5.6% Q2 growth forecast signals economic recovery – Analyst
By: Rebecca Okine
Economic analyst Emmanuel Boateng has described the Databank Ghana Market Quarterly Report as an encouraging sign of economic recovery, forecasting a 5.6% growth rate for the second quarter of 2025.
Speaking on the Business Breakfast on Zed, Mr. Boateng explained that the projection highlights a continued upward momentum in Ghana’s macroeconomic performance.
“Based on my analysis of the Databank report, the headline message is one of sustained recovery momentum,” Mr. Boateng said. “The Ghanaian economy is showing measured resilience, largely driven by the ongoing IMF program, which has anchored macroeconomic stability, alongside support from the World Bank.”
The report estimates that Q2 growth will hover around 5.6%, with a possible fluctuation between 4.6% and 6.6%. This projection is underpinned by gains in key sectors such as mining and trade, along with favorable comparisons to the same period last year, when growth was relatively weak.
“The support we are getting from the World Bank, together with the IMF program, which runs into 2026, is the basis for the resilience we’ve seen in our economic performance,” Mr. Boateng said.
Databank’s analysis of Q1 2025 shows that real GDP rebounded to 4.2%, up from 3.6% in Q4 2024, driven largely by increased output in the mining sector, particularly gold. The strength of gold exports and broader trade recovery are seen as contributing factors to the forecasted growth.
“I’m sure you’ve seen how gold is raking in some revenues, especially from exports,” Mr. Boateng noted. “And for the second quarter, which ends next month, they anticipate that growth will stabilize around 5.6%, with a range of about 1%, either up to 6.6% or down to 4.6%.”
Mr. Boateng added that the projected growth benefits from a “favorable basis,” meaning that comparisons with last year’s performance are boosting the outlook.
