Ghana’s Economic Recovery Must Create Jobs -World Bank
Ghana’s economic recovery must now translate into quality jobs and better livelihoods or risk remaining incomplete, the World Bank has warned, as it called for continued fiscal discipline and transport reforms to sustain growth. Launching the 10th Ghana Economic Update in Accra on Wednesday, the World Bank said the economy grew by 6.0 per cent […] The post Ghana’s Economic Recovery Must Create…
Ghana's economic rebound must now yield quality jobs and improved livelihoods, according to the World Bank, which warned the gains risk remaining incomplete without this crucial transition. The 10th Ghana Economic Update, launched in Accra, highlighted a 6.0% growth in 2025, accelerating to 6.4% in the first quarter of 2026. Inflation fell sharply, international reserves were rebuilt, and fiscal position improved, with public debt decreasing from 70.3% of GDP in 2024 to 49.0% by the end of 2025.
However, World Bank Division Director for Ghana, Robert Taliercio, emphasized that these gains have not yet translated into sufficient job creation. The report revealed that 56.4% of Ghanaians remain impoverished, with widening spatial disparities. Growth drivers have limited capacity to absorb the increasing number of young job seekers.
The World Bank projects a moderate growth rate of 4.8% in 2026, with the recovery converging towards about 5% over the medium term. The report stresses the need for stronger domestic revenue mobilization and cautions that adverse commodity price movements could impact exchange rates, inflation, and public finances due to Ghana's reliance on gold and cocoa exports.
Infrastructure issues in Ghana's transport sector were also highlighted, with only 27% of the 94,200-kilometer road network paved, and the rail network in poor condition. The Bank estimates road safety incidents cost Ghana about 2.1% of GDP annually. The World Bank offered a set of six priority reforms, including operationalizing the Road Maintenance Trust Fund, developing a national transport sector strategy, revitalizing freight rail, treating road safety as a fiscal and public health emergency, embedding climate-resilient standards in Big Push investments, and extending Ghana's digital single window to Takoradi and inland terminals.
The Bank is investing $500 million through the Ghana Market Access and Connectivity Project to rehabilitate 1,050 kilometers of feeder roads using performance-based maintenance contracts. The report underscores the vulnerability of Ghana's recovery to external shocks, emphasizing that reforms now will determine whether the gains become durable, inclusive, and resilient growth.
Written by urgent.news from The Chronicle Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
