Ghana’s second quarter economic growth dips vs revised first quarter

Ghana’s economic growth slowed slightly to 3.2% year-on-year in the second quarter compared with a downwardly revised 3.3% growth rate in the first quarter, the country’s statistics agency said on Wednesday.

The gold-, oil- and cocoa-producing nation has been battling its worst economic crisis in a generation brought on by spiraling public debt.

It sealed a $3 billion, three-year loan program with the International Monetary Fund in May.

The government has forecast economic growth will slow to 1.5% this year from 3.1% in 2022. First-quarter growth was revised down to 3.3% from a previous estimate of 4.2%, the Ghana Statistical Service said on Wednesday.

Source: CNBC