Economy expands by 2.9% in 2023
Data from the Ghana Statistical Service reveals that the economy grew by some 2.9% in 2023.
The growth is higher than the projected 1.5% growth rate by the Finance Ministry.
The growth rate is however, 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.
