Ghana economy grows 4.9% year-on-year in first quarter


Ghana’s economy grew 4.9% year-on-year in the first quarter of 2020 compared with 6.7% in the same period last year, provisional data from the state statistics service showed on Wednesday.

Ghana has had one of Sub-Saharan Africa’s fastest-growing economies in recent years, but the central bank last month downgraded its 2020 growth forecast to between 2% and 2.5% from an earlier expectation of 6.8% due to the impact of the coronavirus pandemic. The economy grew 6.5% in 2019.

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