Ghana’s economy is projected to grow by 4.2% in 2025 and 4.8% in 2026, as indicated in the World Bank’s Global Economic Prospects report published in January 2025. Nevertheless, these growth rates fall short of the pre-COVID-19 average of 5%, highlighting ongoing economic difficulties.
Furthermore, the World Bank has adjusted its GDP growth forecast for Ghana in 2024, lowering it to 4.0% from the previously estimated 4.8% in the October 2024 Africa Pulse Report, which is consistent with the predictions made by the International Monetary Fund (IMF).
The World Bank has warned that the risks associated with Ghana’s economic outlook are predominantly negative. Significant concerns include a more pronounced economic slowdown in China, rising geopolitical tensions—especially in the Middle East—and increasing political instability in East Africa and the Sahel region.
Moreover, sustained inflationary pressures may lead to persistently high global interest rates, which could further burden heavily indebted nations.
The rising occurrence of extreme weather events also presents risks, potentially affecting poverty levels throughout Sub-Saharan Africa (SSA).
In the meantime, economic growth in SSA is estimated to have risen from 2.9% in 2023 to 3.2% in 2024; however, this figure is still 0.3 percentage points lower than previous forecasts due to ongoing conflicts in Sudan and other specific challenges that have impeded recovery.
Given these uncertainties, policymakers are under increasing pressure to devise strategies that enhance economic resilience and promote sustainable long-term growth.
