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The World Bank has revised Ghana’s 2025 economic growth forecast upward to 4.3%, from its earlier projection of 3.9%, reflecting renewed optimism about the country’s economic recovery.
The update was revealed in the October 2025 edition of Africa’s Pulse, the Bank’s flagship regional report, released in Washington, D.C.
Although the revised forecast is slightly below the 4.4% growth target set by the Government of Ghana in the 2025 Budget, it signals a positive outlook for the economy. In the second quarter of 2025, Ghana’s economy expanded by 6.3%, driven largely by strong performance in the services sector, which surged by 9.9% and contributed the most to GDP.
Looking ahead, the World Bank projects Ghana’s economic growth to accelerate further to 4.6% in 2026 and 4.8% in 2027, underlining a favourable medium-term outlook.
Across the broader region, Sub-Saharan Africa is expected to grow by 3.8% in 2025, up from 3.5% in 2024. The World Bank attributes the regional rebound to easing inflation and a modest recovery in investment, despite global economic headwinds.
Encouragingly, inflation pressures are also easing across the continent. The number of African countries experiencing double-digit inflation has dropped significantly—from 23 in October 2022 to 10 in July 2025—indicating progress in macroeconomic stabilization.
Inflation Outlook: Ghana’s Path to Stability
The World Bank forecasts Ghana’s end-2025 inflation rate at 15.4%, which contrasts with the official September 2025 rate of 9.4%, down sharply from 21.5% a year earlier. While the Bank’s projection appears conservative given Ghana’s recent disinflation trend, it expects inflation to continue easing to 9.4% by 2026.
The Bank of Ghana, in its latest Monetary Policy Report, reaffirmed its confidence that inflation will stay within the single-digit range by the end of the year.
Risks Remain Despite Positive Momentum
Despite the improving outlook, the World Bank cautioned that downside risks persist. These include trade policy uncertainty, weak investor sentiment, and reduced access to external finance and aid.
Still, the overall tone of the report remains upbeat, with Ghana positioned to consolidate its recovery and build resilience over the coming years.
