Ghana’s GDP shows economy is fast recovering despite DDEP – Finance Ministry

The Ministry of Finance reports that Ghana’s economy is showing strong recovery, with GDP growth reaching 6.9% in the second quarter of 2024, up from 4.7% in the first quarter.

This marks significant progress compared to 2023’s growth rate of 2.9%. The Ministry credits this rebound to macroeconomic stability and interventions under the IMF-supported Post Covid-19 Programme for Economic Growth (PC-PEG).

Non-oil GDP growth also improved, reaching 5.6% in the first half of 2024.

The growth is particularly notable given the country’s ongoing debt restructuring efforts.

All key sectors—Agriculture, Industry, and Services—contributed to this recovery.