• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Features

Ghana’s GDP Grows at Fastest Pace in Five Years, Beats Estimates

11 months ago
in Features, highlights, Home, home-news, latest News
1 min read
0 0
0
67
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana’s GDP Grows at Fastest Pace in Five Years, Beats Estimates

Ghana’s economy expanded at its fastest pace in five years in the second quarter, beating economists’ estimates by more than double, after better performances in its three largest sectors.

Gross domestic product grew 6.9% in the three months through June from a year earlier, compared with a revised 4.8% in the prior quarter Government Statistician Samuel Kobina Annim told reporters in the capital, Accra, on Wednesday. The median of three economists’ estimates in a Bloomberg survey for expansion was 3.3%.

The cedi traded relatively unchanged at 15.7 per dollar at 10:56 a.m. in the capital, Accra. Ghana bonds maturing in 2032 rose 0.2 cent to 52.59 cents on the dollar.

The better-than-expected outcome may boost Vice President Mahamudu Bawumia’s election campaign. Bawumia, who is the ruling New Patriotic Party’s presidential candidate for the Dec. 7 vote, is considered the underdog to opposition leader John Dramani Mahama for the top job because of public frustration over the NPP’s handling of the economy and the high cost of living.

The West African nation is exiting a prolonged debt restructuring and is in the second year of an International Monetary Fund program that’s included painful austerity measures.

Bawumia has said he would lift economic growth to an average of 6% a year by boosting agriculture and small businesses, and through new mining projects if elected president. He also pledged to use technology to make the government more efficient and to introduce a “friendly” tax regime to spur the private sector.

RelatedPosts

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash

Defence Minister and Environment Minister Among 8 Confirmed Dead in Military Helicopter Crash

Serie A Players Face 25% Pay Cut if Relegated Under New Agreement

The industrial sector grew by an annual 9.3% in the period, after expanding 6.8% in the first quarter. Growth in the agriculture and services sectors accelerated to 5.4% and 5.8% respectively, compared with a revised 4.7% and 3.2% previously.

The better showing in agriculture, which employs an estimated 40% of the workforce, came even as the cocoa subsector contracted for a fourth straight quarter by 26.2%. Ghana is the world’s second largest producer of the ingredient used in chocolate and has seen production slump because of adverse weather, disease, a lack of inputs and smuggling of the beans.

Source: bloomberg
Via: norvanreports
Tags: Beats EstimatesGDPghanaGhana’s GDP Grows at Fastest Pace in Five Years

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Osaka and Keys Advance to Quarter-Finals at Canadian Open

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

Cedi Appreciation Triggers 50% Drop in Remittance Inflows

Inflation Drops 160 basis points to 12.1% in July, Lowest Rate Since October 2021

Kwaku Azar Writes: Is Another SML Brewing at GACL?

GRA Refutes NIA’s Debt Claims, Cites Lack of Regulatory Approval and Service Agreement

Trending

Features

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash

August 6, 2025

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash Ghana...

Defence Minister and Environment Minister Among 8 Confirmed Dead in Military Helicopter Crash

August 6, 2025

Serie A Players Face 25% Pay Cut if Relegated Under New Agreement

August 6, 2025

Osaka and Keys Advance to Quarter-Finals at Canadian Open

August 6, 2025

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

August 6, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.