Ghana’s economy declines for the first time in 40 years

Ghana Economic Overview
Ghana Economic Overview
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ACCRA (9News Nigeria) – Ghana’s economy contracted for the first time in almost four decades in the second quarter, by an annual 3.2%, hit by the fallout of the coronavirus pandemic, the statistics office said on Wednesday.

The gold-, oil-, and cocoa-producing West African nation imposed a three-week lockdown at the start of the pandemic in March, leading to the shutdown of numerous businesses, government statistician Samuel Kobina Annim told a news conference.

Ghana's economy declines for the first time in 40 years
Ghana’s economy declines for the first time in 40 years

“Even after the restrictions have been lifted, many businesses across sectors have continued to close down,” Kobina Annim said.

Reporting by Christian Akorlie; Writing by Bate Felix; Editing by Aaron Ross and Kevin Liffey

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