Ghana revises economic targets upwards for 2024

The government has revised the 2024 macroeconomic framework due to recent economic developments and debt restructuring.

Key revisions include an increase in the overall real GDP growth rate from 2.8% to 3.1% and a revision of non-oil real GDP growth from 2.1% to 2.8%.

Nominal GDP was adjusted to GH¢1.02 trillion, and inflation remains at 15%. Revenue expectations were raised to GH¢177.2 billion, while total expenditure was revised downward to GH¢219.7 billion.

The overall deficit is now projected at GH¢42.5 billion. The Finance Minister, Dr. Amin Adam, announced these changes during the Mid-year Budget Review in Parliament.