The Ministry of Finance says the latest Gross Domestic Product (GDP) figures released by the Ghana Statistical Service (GSS) on Wednesday 18th September, 2024 shows that the Ghanaian economy is fast recovering amid global challenges and debt restructuring.
According to a statement released by the Ministry on Thursday 19th September, 2024, the economy’s robust recovery is in response to the macroeconomic stability and growth interventions the government is pursuing under an IMF-supported Post Covid-19 Programme for Economic Growth (PC-PEG).
“Overall Real GDP growth for the first half of 2024 rebounded strongly, with year-on-year GDP growth averaging 5.8% for the period, significantly higher than the 2.9% recorded in the same period in 2023. The 2024 first half-year growth of 5.8% is supported by a 4.8% expansion in the economy in Q1 2024 and 6.9% in Q2 2024”.
It explained that Agriculture, Industry and services contributed to the robust growth recorded in the first half of 2024.
A 6.9% growth recorded in the second quarter of 2024 is the highest quarterly GDP growth recorded in the past 5 years.
According to the statement, government will continue to prioritize the restoration and sustenance of macroeconomic stability which is necessary for the promotion of an inclusive growth agenda.
Read full statement below