Ghanas economy to expand by 3.4% in 2024 IC Africa [Video]

Research firm, IC Africa, is upbeat about the growth of the Ghanaian economy in 2024, saying, the economy will expand by about 3.4%, higher than the 2.9% growth rate in 2023.

This is however lower than the 4.3% UK-based Fitch Solutions is projecting.

According to the firm, the overall growth conditions and the outlook for key sectors, particularly the industrial activities, deepen its expectation for the start of modest economic recovery in 2024.

Its 2024 forecast range for overall real Gross Domestic Product GDP) growth is between 2.9% – 3.9%

“We tip the extractive sector to hold industry aloft with construction and manufacturing improvements adding further tailwind for industrial growth”, it disclosed in its commentary of the quarter one, 2024 Gross Domestic Product figures released by the Ghana Statistical Service.

“In the services sector, we expect ICT, trade, hospitality, finance & insurance activities, and transport & storage to support growth …