<\/p>\n
Some construction workers<\/em><\/strong><\/p>\n FITCH SOLUTIONS\u2019 latest report on Ghana has indicated that the country\u2019s construction industry will slowdown, growing by 4.1 per cent year-on-year, from 5.7 per cent recorded in 2021.<\/p>\n The report on Ghana dubbed \u201cLower Public Investment to Slow down Ghana\u2019s Construction Industry Growth,\u201d said unlike other markets, Ghana\u2019s infrastructure construction industry is unlikely to benefit from higher oil and gold prices.<\/p>\n This is drawn from the expected increase in public revenues to be channeled towards debt servicing and the country\u2019s high public wage bill rather than capital projects.<\/p>\n \u201cWe forecast Ghana\u2019s construction industry to grow by 4.1% year-on-year in 2022, a slowdown compared to the estimated growth of 5.7% y-o-y in 2021.\u201d<\/p>\n Accordingly, it has forecasted government capital expenditure to shrink to 3.3 per cent to gross domestic product in 2022 and 2.9 per cent in 2023, down from 3.7 per cent recorded in 2021.<\/p>\n \u201cWhile this puts capital expenditure levels above those in 2018-2020, when Ghana\u2019s construction industry growth averaged -0.1% per year, it remains below the comparatively high annual average levels of 4% of GDP between 2010 and 2017,\u201d it mentioned.<\/p>\n During the period between 2010 and 2017, the construction industry growth average 8.1% per year.<\/p>\n \u201cIn 2023, we forecast Ghana\u2019s construction industry growth to accelerate slightly as we forecast the depreciation of the Cedi against the US dollar to slow down to 4.6% year-on-year. Generally, this will reduce revenue risks for foreign investors, while lower inflation will improve demand for residential and non-residential construction,\u201d it stressed.<\/p>\n However, Fitch Solutions concluded that the country\u2019s access to international capital markets will remain constrained and will continue to weigh on public infrastructure spending as well as the market\u2019s construction industry growth.<\/p>\n A business guide report<\/strong><\/p>\n \n\t<\/div>\n","protected":false},"excerpt":{"rendered":" Some construction workers FITCH SOLUTIONS\u2019 latest report on Ghana has indicated that the country\u2019s construction industry will slowdown, growing by 4.1 per cent year-on-year, from 5.7 per cent recorded in 2021. The report on Ghana dubbed \u201cLower Public Investment to Slow down Ghana\u2019s Construction Industry Growth,\u201d said unlike other markets, Ghana\u2019s infrastructure construction industry is […]<\/p>\n","protected":false},"author":1,"featured_media":1105211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[2508,2145,243,709,3903],"class_list":["post-1105208","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-construction","tag-growth","tag-industry","tag-slow"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1105208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1105208"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1105208\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1105208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1105208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1105208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}