Ghana’s GDP grew by 2.9% in 2023 – Amin Adam

Ghana’s GDP grew by 2.9% in 2023, surpassing the World Bank's 1.5% projection and a revised 2.3% estimate, according to Finance Minister Dr. Mohammed Amin Adam.

Speaking at the Ministry of Finance’s monthly briefing, he projected growth to average 5% in the medium term, driven by industrialization, agricultural modernization, and SME growth.

Additionally, Ghana's Gross International Reserves improved to $6.2 billion, covering 2.7 months of imports as of February 2024, up from $5.9 billion in 2022.

Reserves are expected to cover 4.4 months of imports, bolstered by IMF and World Bank inflows, and various national programs.