Photo taken on March 30, 2023 shows the National Theater of Ghana in Accra, Ghana. (Photo by Seth/Xinhua)
Ghana recorded a growth rate of 3.1 percent in the gross domestic product (GDP) last year, the Ghana Statistical Service announced Wednesday.
ACCRA, April 20 (Xinhua) -- Ghana recorded a growth rate of 3.1 percent in the gross domestic product (GDP) last year, the Ghana Statistical Service announced Wednesday.
Samuel Kobina Annim, the government statistician, said during a press briefing held in Accra, the capital of Ghana, that the growth rate fell short of the targeted 3.7 percent and was mainly due to the lower growth in the agriculture and services sectors.
Photo taken on March 30, 2023 shows the National Theater of Ghana in Accra, Ghana. (Photo by Seth/Xinhua)
"The services sector recorded a growth rate of 5.5 percent in 2022 after growing 9.4 percent in 2021," Annim disclosed, noting the agriculture sector posted an annual GDP growth rate of 4.2 percent in 2022 from 8.4 percent in the previous year.
"Mining and quarry made the highest contribution to the overall annual growth rate, with gold production expanding by 32.3 percent year on year," said Annim.
Ghana has been long plagued by multiple economic hardships, including a high debt-to-GDP ratio, soaring inflation, and persistent currency depreciation, prompting the government to seek support from the International Monetary Fund. ■
