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6.9% GDP growth in 2024 Q2 shows economy is recovering – Finance Ministry

Dr. Amin Adam

The Ministry of Finance has stated that the latest Gross Domestic Product (GDP) figures released by Ghana Statistical Service (GSS) show that the Ghanaian economy is fast recovering amid global challenges and debt restructuring.

According to the ministry, the economy’s robust recovery is in response to the macroeconomic stability and growth interventions that government is pursuing under our 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.

It explained that the 6.9% growth recorded in the second quarter of 2024 is the highest quarterly GDP growth recorded in the past 5 years.

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