The World Bank has upgraded Ghana’s 2025 economic growth projection from 3.9% to 4.3%, reflecting renewed confidence in the country’s post-recovery momentum.
The revision, published in the October 2025 edition of the Africa Pulse Report in Washington, D.C., aligns closely with the 4.4% growth target set by the Government of Ghana in the 2025 Budget.
According to the report, Ghana’s economy expanded by 6.3% in the second quarter of 2025, driven largely by a strong performance in the services sector, which grew by 9.9% and remained the leading contributor to national output.
The World Bank further projected Ghana’s growth to strengthen to 4.6% in 2026 and 4.8% in 2027, suggesting a positive medium-term outlook supported by stabilising macroeconomic conditions and gradual improvement in investment flows.
Across Sub-Saharan Africa, the Bank expects regional growth to rise from 3.5% in 2024 to 3.8% in 2025, buoyed by easing inflationary pressures and a moderate rebound in private investment.
It observed that the number of African countries with double-digit inflation had fallen from 23 in October 2022 to 10 in July 2025, reflecting progress in price stabilisation efforts across the continent.
Despite the optimism, the report warned of lingering downside risks, including uncertainty over trade policies, weak investor confidence, and constrained access to external finance and aid.
On inflation, the World Bank forecast Ghana’s end-2025 inflation rate at 15.4%, contrasting with the official national rate of 9.4% in September 2025, down from 21.5% a year earlier. It, however, projected that inflation would continue easing to 9.4% in 2026.
The report described Ghana’s recent disinflation trend as encouraging, suggesting that fiscal discipline and monetary tightening were beginning to yield results.
The Bank of Ghana, in its latest Monetary Policy Report, also reaffirmed expectations that inflation would remain within the single-digit range by the end of 2025, supported by sustained exchange rate stability and a moderation in food prices.
