The World Bank has upgraded Ghana’s 2025 economic growth forecast from 3.9% to 4.3%, reflecting renewed confidence in the country’s post-crisis recovery and macroeconomic stability.
The revised outlook was published in the October 2025 edition of the Africa’s Pulse Report, released by the Bank in Washington, D.C. The new projection is slightly below the 4.4% growth target outlined in Ghana’s 2025 national budget.
According to the report, Ghana’s economy expanded by 6.3% in the second quarter of 2025, driven largely by the robust performance of the services sector, which surged by 9.9% and remained the largest contributor to GDP growth. The Bank anticipates further expansion in the coming years, projecting growth of 4.6% in 2026 and 4.8% in 2027, suggesting a stable medium-term outlook.
Regionally, Sub-Saharan Africa’s GDP is expected to rise by 3.8% in 2025, up from 3.5% in 2024, supported by easing inflation and a gradual recovery in investment. The World Bank highlighted significant progress in price stabilization, noting that the number of African countries experiencing double-digit inflation dropped from 23 in October 2022 to 10 in July 2025.
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Despite this optimism, the report warned of lingering risks, including global trade uncertainties, declining investor confidence, and limited access to foreign finance and development aid.
On the inflation front, the Bank projects Ghana’s consumer inflation to end 2025 at 15.4%, compared to the government’s recent rate of 9.4% in September 2025, down sharply from 21.5% a year earlier. While the Bank’s forecast is more cautious, it acknowledged Ghana’s steady disinflation trend and expects inflation to fall to 9.4% in 2026.
Meanwhile, the Bank of Ghana, in its latest Monetary Policy Report, reaffirmed confidence that inflation would remain within the single-digit range by the end of the year, in line with the government’s economic recovery plan.
Story By: Afia Ohenewaa Akyerem