{"id":264764,"date":"2024-12-13T07:25:32","date_gmt":"2024-12-13T07:25:32","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/12\/13\/we-are-looking-to-bring-ghanas-economy-back-up-mahama\/"},"modified":"2024-12-13T07:25:32","modified_gmt":"2024-12-13T07:25:32","slug":"we-are-looking-to-bring-ghanas-economy-back-up-mahama","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/12\/13\/we-are-looking-to-bring-ghanas-economy-back-up-mahama\/","title":{"rendered":"We are looking to bring Ghana\u2019s economy back up \u2013 Mahama"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>President-elect John Dramani Mahama has said that his administration will immediately be sworn into office on January 7, 2025, and take steps to build the economy.<\/strong><\/p>\n<p>He says he is going to focus on stabilising the local currency.<\/p>\n<p>Mr Mahama said this Mahama said this when the Algerian Ambassador to Ghana, Mourad Louhaidia, paid a visit to his residence to congratulate him.<\/p>\n<p>\u201cWe are looking to focus and bring Ghana back up in terms of economic growth, in terms of stabilising the currency, in terms of bringing down inflation. And this is the time Ghana needs to work even closer with its partners, including China,\u201d he said.<\/p>\n<p>He added \u201c\u201cSo as early as possible, once we get the transition out of the way, it is our hope that we will be able to constitute a delegation to begin engaging with China on the issues of our technical cooperation.\u201d<\/p>\n<p>Meanwhile, Ghana\u2019s economy has shown remarkable resilience, with the third quarter of 2024 witnessing an impressive 7.2 percent year-on-year growth in Gross Domestic Product (GDP). This marks the fastest pace in nearly five years, driven by a strong performance in the industrial sector.<\/p>\n<div class=\"inline-single-ad ad_single_index alignfull\">\n<div class=\"ad-wrap ad-script-wrap\">\n<div class=\"ad-script non-adsense edge-padding\">\n<p>The Government Statistician, Professor Samuel Kobina Annim, announced on Wednesday, December 11, 2024. The previous quarter\u2019s growth was revised upward to 7.0 percent from the initial estimate of 6.9 percent.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><strong>Key Economic Indicators:<\/strong><\/p>\n<ul>\n<li><strong>Industrial Sector:<\/strong>\u00a0Expanded by 10.4 percent, primarily fuelled by mining and quarrying activities.<\/li>\n<li><strong>Services Sector:<\/strong>\u00a0Grew by 6.4 percent.<\/li>\n<li><strong>Agricultural Sector:<\/strong>\u00a0Expanded by 3.2 percent.<\/li>\n<li><strong>Cocoa Sector:<\/strong>\u00a0Contracted by 26 percent for the fifth consecutive quarter.<\/li>\n<\/ul>\n<p>Ghana\u2019s strong economic performance in the third quarter is a significant step forward in its recovery from a severe economic crisis in 2022. The country defaulted on most of its external debt, leading to a painful restructuring process.<\/p>\n<p>Despite the positive growth momentum, concerns about high inflation and government debt sustainability remain for investors. The cedi has been strengthening, but investors continue to monitor the country\u2019s economic progress closely.<\/p>\n<p>The government\u2019s focus on economic reforms and fiscal discipline will be crucial in sustaining this positive momentum and ensuring long-term economic stability.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>President-elect John Dramani Mahama has said that his administration will immediately be sworn into office on January 7, 2025, and take steps to build the economy. He says he is going to focus on stabilising the local currency. Mr Mahama said this Mahama said this when the Algerian Ambassador to Ghana, Mourad Louhaidia, paid a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":264765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-264764","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>We are looking to bring Ghana\u2019s economy back up \u2013 Mahama - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/12\/13\/we-are-looking-to-bring-ghanas-economy-back-up-mahama\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We are looking to bring Ghana\u2019s economy back up \u2013 Mahama - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"President-elect John Dramani Mahama has said that his administration will immediately be sworn into office on January 7, 2025, and take steps to build the economy. He says he is going to focus on stabilising the local currency. 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