Ghana's Gross Domestic Product (GDP) recorded a 7.2% year-on-year growth in the third quarter (Q3) of this year, according to the Ghana Statistical Service (GSS).

Samuel Kobina Annim, head of public statistics at the GSS, stated that the growth in the third quarter (Q3) was 0.3 percentage points higher than the 6.9% recorded in the second quarter (Q2).

The industrial sector recorded the highest real GDP growth with a rate of 10.4%, followed by the services sector with 6.4%, and the agricultural sector with 3.2%," according to Annim.

The mining, construction, and manufacturing sectors were the main drivers of GDP growth during this period, according to the official, while fishing, water and waste treatment, as well as other personal services sectors, showed a contraction in the third quarter.

With the support of a $3 billion loan from the International Monetary Fund (IMF), Ghana has implemented a reform program since May 2023. This program aims to stabilize the economy, which was previously trapped in a recession marked by a spiral of public debt, rising inflation, and high exchange rate volatility.

Article source: lobservateur