Economy To Expand By 2.8% In 2023 – Ofori-Atta

The Ghanaian economy will expand by 2.8% in the 2023, Finance Minister, Ken Ofori-Atta, has announced. This is part of government’s macroeconomic targets for next year. This will mean aggregate demand and supply will be moderate during the fiscal year. Non-oil real Gross Domestic Product growth rate will however grow at a

rate of 3% in 2023. Mr. Ofori-Atta also said government is also taking active steps to address the impact of the economic shocks on Ghanaians through the seven-point agenda to restore macro-economic stability and accelerate the economic transformation as articulated in the Post-COVID-19 Programme for Economic

Growth. Ghana’s economy expanded by 4.8% in the second quarter of this year, higher than the 3.4% recorded in the first quarter, data from the Ghana Statistical Services has revealed. The appreciable growth rate was driven by Manufacturing (8.8%), Crops and Cocoa (4.5%), Mining and Quarrying (4.4%), Information

and Communication (12.4%) as well as the Education (13.2%) sub-sectors. For the sectors, the Services sector (5.2%) expanded more than the national average. It was followed by Agriculture (4.6%) and Services (4.4%).