The AfDB projects Ghana’s growth rate to be 3.4% in 2024 and 4.3% in 2025.

Source: newsthemegh.com/Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The African Development Bank has revised Ghana’s growth rate to 3.4% for 2024 and 4.3% for 2025.

This is higher than the 2.8% it earlier predicted in February 2024.

According to the AfDB, the revised growth rate is stronger than earlier anticipated, describing the  medium-term growth outlook as positive.

The expected growth rate would be led by industry and services on the supply side and private consumption and investment on the demand side.

Ghana will thus place 14th ahead of Nigeria in West Africa with the strongest Gross Domestic Product (GDP) growth.