The Ministry of Finance has highlighted that the latest Gross Domestic Product (GDP) figures, released by the Ghana Statistical Service (GSS), indicate a swift recovery of the Ghanaian economy, despite global challenges and ongoing debt restructuring.
The ministry attributed this robust recovery to the government’s macroeconomic stability measures and growth interventions under the 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”, the statement said.
The ministry noted that the 6.9% growth recorded in the second quarter of 2024 marks the highest quarterly GDP growth in the past five years.
“Non-Oil GDP growth for the first half-of 2024 was equally robust with growth rate of 5.6%, significantly higher than the 3.8% recorded in the first-half year of 2023. The first half-year economic expansion is supported by Q1 growth of 4.3% and Q2 growth of 7.0%”.
Below is the statement
