According to Deloitte Ghana’s review of the 2024 Mid-Year Budget, the positive performance in the first half of 2024 has boosted government and investor confidence.
Deloitte’s review highlights a 6.8% growth in the industry sector in Q1 2024, reversing previous contractions and slow growth. Mining and quarrying were key contributors to this growth, driven by rising global commodity prices.
This growth is expected to positively impact the economy, increasing jobs, wages, and community infrastructure.
The review also notes that the decrease in inflation and currency depreciation supports the view that economic recovery is on track.
However, risks remain, such as potential government spending increases due to upcoming elections and a higher demand for dollars during the holiday season.
The IMF Programme is seen as a safeguard against excessive spending and a boost to Ghana’s foreign reserves, helping to manage currency fluctuations.
