The Ghanaian economy will expand by 2.8% in 2023, Finance Minister, Ken Ofori-Atta, has announced.

This is part of government’s macroeconomic targets for next year.

This will mean aggregate demand and supply will be moderate during the fiscal year.

Non-oil real Gross Domestic Product growth rate will however grow at a rate of 3% in 2023.

Mr. Ofori-Atta also said government is taking active steps to address the impact of the economic shocks on Ghanaians through the seven-point agenda to restore macro-economic stability and accelerate the economic transformation as articulated in the Post-COVID-19 Programme for Economic Growth.

Economy expands by 4.8% in quarter 2, 2022

Ghana’s economy expanded by 4.8% in the second quarter of this year, higher than the 3.4% recorded in the first quarter, data from the Ghana Statistical Services has revealed.

The appreciable growth rate was driven by Manufacturing (8.8%), Crops and Cocoa (4.5%), Mining and Quarrying (4.4%), Information and Communication (12.4%) as well as the Education (13.2%) sub-sectors.

For the sectors, the Services sector (5.2%) expanded more than the national average. It was followed by Agriculture (4.6%) and Services (4.4%).