Ghana's economy has surpassed expectations with a growth rate of 6.3% in 2024, according to the Ministry of Finance (MoF), marking it as one of Africa’s strongest economies despite facing global and local challenges.In a statement on December 12, the MoF highlighted the country’s impressive performance during the first nine months of 2024, with an average growth of 6.3% in real GDP.

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Data from the Ghana Statistical Service (GSS) showed that Ghana’s economic growth in the third quarter of 2024 was a significant improvement compared to the 2.6% recorded during the same period in 2023.The industry sector led the growth, achieving an average increase of 8.9%, driven by mining, quarrying, construction, and the oil and gas industries.The services sector grew by 5.

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0%, supported by strong performances in information and communication, financial and insurance services, and hospitality.Meanwhile, the agriculture sector recorded a 4.6% growth, with crops and livestock making notable contributions.This impressive economic recovery is credited to Ghana’s efforts to manage its finances, restructure debt, and promote inclusive growth, positioning the country for further progress.

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“Ghana’s economy continues to exceed expectations, defying challenges and solidifying its position as one of the most dynamic economies in the Africa region. Data released by the Ghana Statistical Service (GSS) underscores the country’s remarkable economic performance during the third quarter of 2024.”

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