Economic growth ‘exceeds expectations’ – Asiama

Ghana's economy is rebounding, exceeding expectations. This was stated by Bank of Ghana Governor Johnson Asiama.

On Friday, March 28, 2025, he briefed journalists. This followed the 123rd meeting of the Monetary Policy Committee (MPC). The committee assessed recent economic developments and inflation risks.

Dr. Asiama shared provisional data from the Ghana Statistical Service. It estimated real GDP growth at 5.7 percent for 2024. This is higher than the programmed growth rate of 4.0 percent.

The growth also surpassed the 3.1 percent recorded in 2023. Non-oil GDP grew by 6.0 percent, compared to 3.6 percent in 2023.

Dr. Asiama noted that growth in 2024 was driven by Industry and Services sectors. However, agricultural sector growth was slower due to lower crop yields.

Adverse weather conditions contributed to these lower yields and other factors.