56.4% Of Ghanaians Remain In Poverty – World Bank
Dr. Robert Taliercio O’Brien The World Bank has stated that 56.4 per cent of Ghanaians remain in poverty, with widening spatial disparities exposing a disconnect between headline economic growth Read More... The post 56.4% Of Ghanaians Remain In Poverty – World Bank appeared first on DailyGuide Network .
The World Bank has reported that 56.4% of Ghanaians continue to live in poverty, highlighting a mismatch between overall economic growth and the improvement in living standards for the majority of the population. Speaking at the launch of the 10th Ghana Economic Update, Dr. Robert Taliercio O’Brien, the World Bank Country Director for Ghana, Liberia, and Sierra Leone, noted that while Ghana has made progress in restoring macroeconomic stability after a 2022/2023 economic crisis, the benefits have not reached a significant portion of the population.
Economic growth has been concentrated in sectors with limited capacity to absorb the growing labor force, leading to widening spatial disparities.
Ghana's economy expanded by 6% in 2025, the fastest pace since 2019, and further grew by 6.4% in the first quarter of 2026. Inflation has declined significantly, falling from 23.2% in February 2025 to 3.2% in March 2026, its lowest level since 1999 and currently at 4.6%. The bank projects an economic growth rate of 4.8% in 2026, settling around five percent in the medium term.
However, Dr. O’Brien cautioned that the recovery is incomplete due to some fiscal gains achieved through expenditure compression rather than robust revenue mobilization. The fiscal surplus was primarily due to a 38% reduction in capital spending, which is not a sustainable growth path.
The report emphasizes the need for urgent attention to structural imbalances, particularly in the labor market, where the influx of young people entering the workforce is not being adequately absorbed by growing sectors. The World Bank also highlights inefficiencies in the cocoa sector, which affect farmers and strain public finances, calling for reforms in the legal and institutional framework to promote market-based principles.
Despite these challenges, Dr. O’Brien praised the government for its difficult policy decisions that improved macroeconomic indicators, affirming the government's leadership in these efforts. However, he urged against complacency, stressing that significant structural challenges remain to ensure that the benefits of economic growth are widely distributed across the population.
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