Ghana’s economy recorded a 2.9% Gross Domestic Product (GDP) growth in 2023, stronger than the revised 1.5% by the Finance Ministry.
The growth rate is slower than the 3.1% recorded in 2022. According to the data from the Ghana Statistical Service, the Services sector contracted by -1.2%. It however remains the biggest size of the economy.
Government Statistician, Professor Samuel Kobina Annim, said the last quarter of 2023 however recorded a higher growth rate of 3.8%, driven by the oil and gas subsector.
Meanwhile, this is the first time in more than a year that Ghana recorded a higher growth rate in oil GDP.
Source: Myjoyonline.com
