The Ministry of Finance has reaffirmed the government’s commitment to restoring macroeconomic stability, which is crucial for advancing an inclusive growth agenda.
Recent data reveals that Ghana’s economy expanded by 6.9 percent in the second quarter of 2024, marking the fastest growth in five years.
The surge is primarily attributed to the services sector, mainly information and communications, and robust performance in mining and quarrying.
The Ghana Statistical Service’s latest report indicates robust overall GDP growth of 5.8 percent for the first half of 2024, significantly surpassing the 2.9 percent growth in 2023.
This recovery is supported by key government initiatives, including the Planting for Food and Jobs Phase 2 Programme and the 1 District 1 Factory Programme, which aim to bolster economic stability under the IMF-supported Post-COVID-19 Programme for Economic Growth.
The industry sector led the way with an impressive 8.0 percent growth, recovering from a contraction in 2023, while agriculture and services also contributed with respective growth rates of 5.0 percent and 4.4 percent.
The Ministry emphasized that these initiatives are vital for improving Ghanaians’ living conditions and consolidating economic gains in a challenging global landscape.
