As the utility cost increases take effect today, businesses plan to pass these additional costs onto customers. Electricity tariffs have risen by 3.02%, and water tariffs have increased by 1.86%.
The Bank of Ghana has guaranteed sufficient dollar reserves to bolster the Ghana Cedi, anticipating increased demand for imports during the Christmas season.
As of July 2024, Ghana’s debt stock has reached GH₵761.2 billion, meaning each Ghanaian owes GH₵22,076. This is an increase from the same period last year when the debt stock was GH₵587.7 billion, representing 70.3% of GDP.
Ghana’s economy grew by 6.9% in the second quarter of 2024, provisional figures released by the Ghana Statistical Service (GSS) has revealed. Compared to the first quarter of 2024, the economy grew at 4.7%.The Services sector continues to be the largest contributor to the growth in the second quarter of 2024 with 44.2%. This is followed by the industry sector with a contribution of 32.2% and the agriculture sector with 23.6%.