It is important to keep reminding Ghanaians that Ghana’s economy was one of the fastest growing economies in the world from 2017 to 2019 until the COVID-19 pandemic came, the Director of Communications of the New Patriotic Party (NPP) Richard Ahiagbah has said. Mr Ahiagbah indicated that it was during this period that the government
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It is important to keep reminding Ghanaians that Ghana’s economy was one of the fastest growing economies in the world from 2017 to 2019 until the COVID-19 pandemic came, the Director of Communications of the New Patriotic Party (NPP) Richard Ahiagbah has said.
Mr Ahiagbah indicated that it was during this period that the government introduced several pro-poor policies including the implementation of the free senior high school programme
Despite the impact of COVID-19 and also the Russia-Ukraine war on the global economy Ghana has been able to turn the corner relative to the economic challenges, he said.
To that end, he says the NPP will win this year’s general elections to continue the implementation of the programmes for development.
“The World Bank declared Ghana as one of the fastest growing economies in the world, not Africa between 2027 and 2019 then Covid came to hit the global economy. It is always important to tell Ghanaians where we have come from,” he told journalists in Kumasi on Monday, June 24.
He stressed that “The NPP will win the elections this year because we have done it before and we know how to do it, we admit that times are had but we are turning the corner.
“The economy has picked up in the first quarter of this expanding 4.7 percent. with this, it shows that progressively we are moving forward.”
The GDP in volume terms was estimated to have increased by 4.7 % in quarter 1 (January to March) of 2024 compared to the same period in 2023, the Ghana Statistical Service (GSS) has announced.
When seasonally adjusted, Ghana real GDP increased to 1.2% in quarter one (January to March) of 2024; a 0.2 percentage point higher than what was recorded in quarter four (October to December) of 2023.
The drivers of growth in Quarter 1 2024 are: Mining & Quarrying (12.9%) and contributed 1.48% to the overall growth; Information & Communication (17.9%) and contributed 1.01% to the overall growth; Crops (4.3%) and contributed 0.74% to growth; Construction (8.2%) with a contribution of 0.51%; and Accommodation and Food Service Activities (9.4%) with a contribution of 0.36%.
Five sub-sectors contracted in quarter four of 2023: Health (-8.8%); Electricity (-7.5%); Public Administration (-5.3%); Education (-4.9%); Other Personal Service Activities (-2.9%); and Forestry & Logging (-1.2%).
Gross Domestic Product (GDP) growth is the main indicator of economic performance. There are three approaches used to measure GDP: the output approach, the expenditure approach, and the income approach.
The post Ghana was one of the fastest growing economies in the world from 2017 to 2019 until Covid came – Ahiagbah first appeared on 3News.
