Works and Housing Minister Kojo Oppong Nkrumah has stated that if elected president, the New Patriotic Party (NPP) flagbearer, Vice President Dr. Mahamudu Bawumia, will remain dedicated to fostering the growth of Ghana’s economy.
The lawmaker representing Ofoase Ayirebi made these comments in response to the reported 6.9 percent growth of Ghana’s economy. In a message shared on his X page, he expressed his views.
A Bawumia administration will keep working hard to grow the Ghanaian economy.
Ghana’s economy experienced its most rapid growth in five years during the second quarter, achieving a rate of 6.9 percent. Recent statistics from the Ghana Statistical Service reveal that this growth was primarily fueled by the services sector, especially in the areas of information and communications, alongside the industrial sector, which was predominantly driven by mining, quarrying, and gold production.
In the second quarter of 2024, the services sector remains the largest component of the economy, accounting for 44.2 percent of GDP at basic prices.
As noted by Government Statistician Professor Samuel Kobina Annim, the industrial sector contributed 32.2 percent to GDP, while agriculture represented 23.6 percent.
Over the period we continue to see the expansion in information and communications which is one of the eleven sub-sectosr within the services sector. In the second quarter of 2024, we saw information and communications also expanding by 12.0 percent in the second quarter of 2024.
The industrial sector experienced an annual growth rate of 9.3 percent in the second quarter of 2024, following a 6.8 percent increase in the first quarter.
The agricultural sector saw its growth rate rise to 5.4 percent, whereas the services sector expanded by 5.8 percent. Nevertheless, the cocoa sub-sector remains in a state of contraction.
Cocoa which is a component of crops did not see expansion like the other crops within the crops sub-sector. In contrast, we saw a contraction in the cocoa sub-sector for second quarter of 2024.
