GDP Growth Reached 8.5% in 2017

The Minister of Finance, Mr Ken Ofori Atta has indicated that the overall real Gross domestic product (GDP) growth for 2017 has increased from 3.7% in 2016 to 8.5% in 2017.

Presenting the 2018 mid-year review at parliament, the minister stated that the industry which was mainly driven by an increased crude oil production recorded a growth of 16.7% making it the best growth performer for 2017.

The agricultural sector was the second best growth performer with a record of an 8.4%.

The non-oil real GDP recorded a 4.9% compared to the previous year which recorded 5.0%.

A major growth for 2017 was attributed to the petroleum subsector which increased to an 8.4% as compared to a contraction of 16.9% in 2016.