Ghana

Ports in Ghana are struggling to keep up with the demands of the expanding economy, which are being fuelled by the rapidly developing energy industry and increasing domestic consumption. However, new investments being channelled into the maritime services sector should ease some of the pressure.

Several issues debated during Ghana’s 2012 campaign season regarding education funding are expected to be revisited in 2013. The cost and quality of education ranks as a high priority for citizens, and as the new government articulates its policy, it will be seeking to balance that priority with fiscal discipline.

Ghana’s economy is expected to see robust growth this year, at around 8.5%, but so too will public spending. The 20% increase in government expenditures should help sustain social services and infrastructure investment, and underwrite activity in the energy, agriculture and construction sectors. However, there are concerns the country may not be pursuing fiscal consolidation aggressively enough, and 2013 will see a wide deficit and rising debt.

Halfway through the current cocoa season, concerns are rising that Ghana’s growers will see lower-than-expected revenues for 2013, due to poor weather conditions and a tight global market. However, the government still plans to move ahead with a long-term programme to further boost production, with hopes that a series of late rains will also improve output for the current season.

Although moderately sized, Ghana’s tourism industry has been a major focus of attention from both public and private sector investors in recent years. Developments in infrastructure, promotion and diversification of products should help the country boost both visitor arrivals and revenues.