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%).
Latest Stories
-
Let’s live peacefully and shame our saboteurs – Savannah executives of NPP, NDC
10 mins -
Reconstruction of Agona-Nkwanta-Tarkwa road 80 per cent complete
18 mins -
Internet penetration: 10.7 million Ghanaians offline – LONDA Report
26 mins -
USC cancels grad ceremony as campus protests against Israel’s war in Gaza continue
30 mins -
Harvey Weinstein’s 2020 rape conviction overturned in New York
37 mins -
US Supreme Court divided on whether Trump can be prosecuted
40 mins -
There’s enough justification for Affirmative Action Bill to be passed – Minka-Premo
43 mins -
Don’t allow people to manipulate you into vaccine hesitancy – Dr Adipa-Adappoe
50 mins -
Suspend implementation of Planting for Food and Jobs 2.0 for 2024 – Stakeholders
56 mins -
Parkinson’s disease no longer confined to the elderly – Public Health Physician, Dr Momodou Cham warns
1 hour -
Persons living with Parkinson’s disease appeal for support as they face stigmatization
1 hour -
36-year-old-trader sentenced for stealing employer’s money
1 hour -
9 signs you’re falling in love with someone who thoroughly enjoys emotional manipulation
1 hour -
Catholic Diocese of Keta Akatsi hosts Parkinson’s support group meeting
1 hour -
Wa Naa appeals to Akufo-Addo to audit state lands in Wa
2 hours