Fitch Solutions is forecasting an economic growth in Ghana to rise from 2.9% in 2023 to a three-year high of 5.5% in 2024.
The latest data from the Ghana Statistical Service shows that the economy expanded by a strong 6.9% year-on-year in quarter 2, 2024, building on the solid 4.8% recorded in quarter one.
According to the UK-based firm, the growth acceleration in quarter 2, 2024 was largely driven by stronger industrial output buoyed by mining and quarrying, as well as a continuing recovery in the construction sector.
In expenditure terms, stronger growth in quarter 2, 2024 was bolstered by an 8.5% increase in private consumption and a 12.6% rise in exports.
Turning to the second half of 2024, it said growth will remain strong, although it will decelerate from the high recorded in quarter 2, 2024.
Subscribe our newsletter to stay updated
Thank you for subscribing!
Subscribe our newsletter to stay updated
Thank you for subscribing!
