The Ministry of Finance (MoF) has announced a significant economic recovery for Ghana, with the country’s Gross Domestic Product (GDP) growing by 6.9% in the second quarter (Q2) of 2024, up from 4.7% in the first quarter. This growth occurs despite ongoing global challenges and debt restructuring efforts.
In a statement released on September 19, the MoF attributed this robust recovery to the government’s macroeconomic stability and growth strategies, supported by the IMF’s Post Covid-19 Programme for Economic Growth (PC-PEG).
The overall real GDP growth for the first half of 2024 averaged 5.8%, a marked improvement from the 2.9% growth recorded during the same period in 2023. Notably, this performance surpasses the initial growth target of 1.5% for 2024, which was later revised to 3.1% during the Mid-Year Review of Fiscal Policy in July. The MoF emphasized that all three sectors of the economy—Agriculture, Industry, and Services—contributed to this impressive growth in the first half of the year.
SOURCE: https://dew360.net
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