Addressing a press briefing in Accra, the capital of Ghana, government statistician Alhassan Iddrisu said the main drivers of Q2 growth were information and communication, education, manufacturing, and financial and insurance activities.
“The services sector, with a share of 41.9 percent of the economy, recorded the highest growth in real gross domestic product (GDP) at 9.9 percent year-on-year,” Iddrisu said, adding that the services sector contributed the most to growth, with 4 percentage points.
According to him, the agriculture sector, which constitutes 24.8 percent of the GDP, grew by 5.2 percent, while industry, with a 33.2 percent share, recorded a growth rate of 2.3 percent.
Meanwhile, non-oil GDP growth (excluding oil production from the economy) stood at 7.8 percent.
Moreover, the 3-billion-dollar International Monetary Fund-backed reforms to tackle multiple long-standing economic challenges, including currency depreciation, high inflation and ballooning public sector debt, have started to show positive results.
The West African nation, a major exporter of cocoa, gold and crude oil, has also reported notable improvements in recent months, with inflation falling to 11.5 percent in August, the lowest level since October 2021.
