Ghana economic growth seen higher in 2024, finance minister says
2024.07.23 11:58
ACCRA (Reuters) -Ghana on Tuesday raised its economic growth projection for this year, citing the impact from the restructuring of its debt, the west African country’s finance minister Mohammed Amin Adam said on Tuesday.
Ghana, the world’s number two cocoa producer, has been restructuring its $30 billion debt to recover from its worst economic crisis in a generation.
Economy growth is now seen at 3.1% in 2024, above its previous forecast of 2.8%, Amin Adam said during a mid-year budget review presentation in parliament.
“Growth continues to exceed our expectations,” he said, adding that inflation was declining.
The country’s budget deficit was at 3.4% of gross domestic product in the first half of the year, Adam said, adding that deficit had reached 3.7% of gross domestic product in 2023, lower than its forecast of 5.7%.
