From Ghana Web

The parent company of Stanbic Bank, Standard Bank is predicting a growth rate of around 7 percent for Ghana this year. This is down from the provisional estimate of 7.4 percent for 2013.

According to the largest bank in Africa, the high growth rate is not sustainable in the long term. Assessing the past, present and future outlook of the Ghanaian economy, it said the high growth rate does not necessarily mean the Ghanaian economy is doing extremely well.

Head of Emerging Markets Strategist, Samir Gado told some financial journalists a while ago that it is less convinced that the agricultural growth will accelerate rapidly. However the industrial sector is expected to increase its share of GDP if the jubilee gas pipeline comes on stream.

“Not will this boost oil and gas production but it will also further raise electricity generation. Construction growth is expected to remain robust”, Mr. Gado explained.

Read more at Ghana Web