Ghana’s economic growth slowed to 2.0% year-on-year in the third quarter of 2023 from 3.2% in the previous quarter, driven by a decline in the industrial sector, Ghana Statistical Service (GSS) said on Wednesday.
Contributing to the third-quarter slowdown were contractions in sub-sectors of industry such as mining and construction, the statistics agency said. Agriculture made a positive contribution, even though cocoa farming is having an unusually bad season.
Meanwhile, producer inflation slowed to 2.0% year-on-year in November from a revised 9.7% in October, the GSS said separately on Wednesday.
Consumer inflation also slowed last month, to 26.4% from 35.2% in October.
Ghana is negotiating a debt restructuring deal with its official creditors. It hopes to reach a deal soon to secure the next US$600 million from the International Monetary Fund under a US$3 billion rescue package.
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