Ghana’s economy is expected to expand by around 4.8% in 2026, propelled primarily by robust services, resilient exports, and rising private consumption, according to PwC’s West Africa Economic Outlook for 2026.
The consulting firm highlighted that targeted public capital expenditure, alongside easing inflation, will support growth, while private-sector activity continues to show resilience.
“IMF-backed reforms, improved revenue mobilisation, and disciplined expenditure management, albeit with limited fiscal flexibility,” are expected to underpin the country’s fiscal trajectory, PwC notes, pointing to a continuation of consolidation efforts aimed at stabilising public finances.
Inflation is projected to remain within the 6–10% target range, aided by anchored expectations, contained imported inflation, and sustained foreign exchange stability. The cedi is expected to hold broadly steady, supported by strong export receipts and remittances, though PwC cautions that it remains vulnerable to external shocks.
Interest rates are likely to ease gradually, with the pace carefully managed to preserve policy credibility and financial stability. “The pace of easing will remain cautious to preserve policy credibility and financial stability,” the report notes.
PwC’s outlook suggests that while growth is expected to be moderate, the combination of public investment and private consumption could create an environment conducive to steady economic expansion, with services and exports leading the way.
