“This economy will grow, and it will grow faster than everybody thinks,” he expressed confidently.

The Minister was speaking at a UK Town Hall meeting on June 22.

Consequently, Fitch Solutions has revised Ghana’s real Gross Domestic Product (GDP) growth for 2024 to 4.3%, from the previous 3.8%.

The London-based firm is also forecasting an expansion of the Ghanaian economy by 4.5% in 2025.

It attributes its revision of Ghana’s growth rate to stronger, than anticipated increase in economic activities for the next two quarters of 2024.

“We believe that economic growth over the coming quarters will remain markedly stronger compared to the last two years.”

“While inflation remained sticky in Q1 [quarter one] 2024, averaging 24.2%, we expect that it will trend downward and reach 19.5% by the end of the year, primarily facilitated by statistical base effects. Slowing inflation, combined with stronger government spending ahead of the December general elections, will support consumer activity and boost domestic demand,” it added.