Ghana’s economy expanded in the first quarter of the year.
Gross domestic product grew 4.7% in the three months through March from a year earlier, compared with 3.8% in the prior quarter, Government Statistician Samuel Kobina Annim told reporters in the capital, Accra, on Tuesday.
The stronger growth data is a boon for the ruling New Patriotic Party, whose handling of the economy has been criticised by the main opposition National Democratic Congress as the West African nation prepares for presidential elections slated for December 7.
Growth in Ghana has been hindered by a reduction in government spending to control debt under a $3 billion International Monetary Fund rescue program. Ghana is restructuring almost all of its $44 billion of debt as part of the IMF loan and currently negotiating with private creditors to reorganise $13 billion of bonds.
