The Finance Minister Dr Mohammed Amin Adam has said that for the most part, the macroeconomic climate keeps on excess steady as the public authority carries out the International Monetary Fund (IMF) upheld program.
He stated that the economy continues to show strong signs of recovery in the first quarter of 2024 and that growth is proving to be more resilient and robust than anticipated.
He stated that real GDP growth for the first quarter of 2024 was 4.7% overall, the highest since Q1 of 2022.
This development execution he added, is superior to the 3.1% development kept in a similar period in 2023.
Talking during the joint IMF, Service of Money, and Bank of Ghana question and answer session in Accra on Monday, July 1, he said "Industry became the most at 6.8%, trailed by Agribusiness at 4.1% and Administrations at 3.3%. The industry GDP growth rate in Q1 2024 is the highest since Q4 2020. As a result of ongoing fiscal consolidation, appropriate tightening of monetary policy, and relative exchange rate stability, inflation has been declining with a strong disinflation process since the beginning of 2023. Title Expansion declined by 1.9 rate focuses to 23.1% in May 2024 from 25.0% in April 2024 subsequent to cresting at 54.1% in December 2022.
"The Cedi has been feeling the squeeze lately, notwithstanding, the conversion scale has to a great extent settled beginning around 2023. The cedi has depreciated by 18.4% year-to-date against the US dollar, compared to 22.0% during the same time period in 2023.