Economy showing signs of strong recovery – Finance Minister

Finance Minister Dr. Mohammed Amin Adam has announced signs of economic recovery in Ghana, highlighting positive indicators for Q1 2024 and a promising outlook for the rest of the year.

He reported a 4.7% real GDP growth in Q1, the highest since Q1 2022, surpassing the 3.1% growth in the same period in 2023. Industry led with 6.8% growth, followed by agriculture at 4.1% and services at 3.3%.

Dr. Adam credited the IMF-supported programme for stabilizing the macroeconomic environment.

The announcement followed the IMF's second review of Ghana’s $3 billion Extended Credit Facility, resulting in a $360 million disbursement.