Ghana’s economy grew by 2.9% in quarter four of 2023, according to the latest figures from the Ghana Statistical Service (GSS).
This is a 0.9 percentage points drop from the 3.8% recorded in 2022 but higher than the government’s revised target of 1.5% for the period under review.
Addressing the media on Wednesday (20 March 2024), the government statistician, Professor Samuel Kobina Annim attributed the growth rate mainly to a dip in industry and services.
“The last quarter of 2023, recorded the highest real GDP growth rate (3.8%) across the four quarters with the Industry sector reversing a consistent contraction in the first three quarters to an expansion of 1.6% in the 2023 Q4.”
“Annual GDP growth rates for the Industry sector returns to a contraction (1.2%) in 2023, following
the marginal expansion of 0.6% in 2022,” he said.
Watch the full briefing in the attached video clip below:
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