All things being equal, Ghana’s economy is projected to expand by 4.3% in 2025, according to the World Bank estimation as contained in the October 2025 edition of Africa’s Pulse Report, released by the Bank in Washington, D.C.
The projection is about 0.4% more than its earlier projection of 3.9%, showing a renewed optimism about the country’s recovery trajectory.
The WB’s revised projection is 0.1% lower than the 4.4% projection by the Government of Ghana as captured in the 2025 Budget.
Already, Ghana’s economy has expanded by 6.3% in the second quarter of 2025, influenced by the services sector, which grew by 9.9% and contributed the most to GDP.
The World Bank projects growth to strengthen further to 4.6% in 2026 and 4.8% in 2027, underscoring a positive medium-term outlook.
Across the continent, Sub-Saharan Africa’s economy is expected to grow by 3.8% in 2025, up from 3.5% in 2024.
The Bank attributed the rebound to easing inflationary pressures and a modest recovery in investment, despite persistent global headwinds.
It noted that the number of African countries with double-digit inflation has dropped sharply—from 23 in October 2022 to 10 in July 2025—reflecting progress in price stabilization.
However, the report cautioned that downside risks remain, including trade policy uncertainty, weak investor sentiment, and shrinking access to external finance and aid.
The World Bank expects Ghana’s inflation to close 2025 at 15.4%, a projection that contrasts with the official rate of 9.4% in September 2025, down from 21.5% a year earlier.
The Bank’s forecast appears conservative, given the country’s recent disinflation trend.
Nonetheless, the report expressed optimism that inflation will continue easing, dropping to 9.4% in 2026.
The Bank of Ghana, in its latest Monetary Policy Report, reaffirmed expectations for inflation to remain within the single-digit range by year-end.
By Adnan Adams Mohammed
