Ghana’s Economy Sees Significant Expansion In First Quarter of 2024

Source: Ghanaija

The Ghanaian economy saw a significant expansion in the first quarter of 2024.

Government Statistician, Samuel Kobbina Annim, made this known in his address to the media in Accra, on Tuesday, June 18, 2024.

According to him, Ghana’s Gross Domestic Product (GDP) grew by 4.7% in the first three months of 2024, up from 3.8% in the prior quarter.

Ghana’s economic growth in recent time has been impacted by reduced government spending aimed at public debt control under the framework of the $3 billion International Monetary Fund bailout program.

Ghana is currently working on restructuring a significant portion of its $44 billion debt, holding negotiations with private creditors to reorganize $13 billion of bonds.