Fitch Solutions has predicted victory for the National Democratic Congress (NDC) in the upcoming 2024 elections.
This is the third time Fitch Solutions is predicting an NDC victory in the upcoming polls.
In Fitch Solutions latest Country Report on Ghana on September 19, 2024, they noted that, “We expect the government to boost expenditure leading up to the December 2024 general election to enhance its chances of securing victory. We remain of the view that the opposition National Democratic Congress will win the election”.
The latest Country Report on Ghana also added saying, “Indeed, in Q2 [quarter 2, 2024], the government raised public sector wages by 31.0% year-on-year in nominal terms and tripled subsidies on petrol products, a move that aligns with Ghana’s historical trend of higher spending during election cycles. This will boost household purchasing power and support consumer spending over second half of 2024.”
Their report also warned of risk to Ghana’s economic growth citing nationwide protests by the NDC, “While our core view remains that the vote will be conducted peacefully, consistent with Ghana’s recent democratic history, prolonged protests or the outbreak of large-scale violence would disrupt commercial activities and reduce consumer and business confidence, ultimately leading to lower economic growth than we currently forecast,” the report said.
