DP World, GulfCap advance 222-hectare Mombasa industrial park with 20,000 jobs expected

The World Bank has urged Ghana to build upon its recent economic recovery by creating quality jobs and ensuring lasting improvements in the lives of its citizens. While Ghana has made significant strides in restoring macroeconomic stability, the World Bank emphasizes that sustaining this progress requires ongoing fiscal discipline, enhanced domestic revenue collection, and structural reforms to overcome obstacles to growth.

One key area identified for reform is the transport sector, which plays a critical role in reducing the cost of doing business, connecting markets, and generating employment.

According to the World Bank's 10th Ghana Economic Update, titled "Reset for Growth: Sustaining Macroeconomic Recovery and Unlocking Transport for Transformation," Ghana's economic recovery intensified in 2025, with real Gross Domestic Product (GDP) growth reaching 6.0 percent. This growth was primarily fueled by the services and agriculture sectors, while inflation declined, gross international reserves strengthened, and the fiscal position improved, with the primary surplus surpassing the program target.

Public debt also declined substantially due to the country's successful comprehensive debt restructuring program.

However, the World Bank cautioned that the recovery was "not yet complete," noting that economic growth had not generated enough quality jobs to absorb Ghana's growing workforce. The Bank warns that poverty remains high in certain regions, and external pressures such as commodity price volatility, higher energy and fertiliser costs, and tighter global financing conditions could jeopardize the sustainability of the recovery.

Dr. Robert Taliercio, the World Bank Division Director for Ghana, Liberia, and Sierra Leone, emphasized that while Ghana has made important progress in restoring stability, the next phase must focus on making the recovery durable and more inclusive by maintaining fiscal and monetary discipline, strengthening revenue mobilisation, and safeguarding essential social and infrastructure spending.

The report forecasts that Ghana's economic growth will moderate to 4.8 percent in 2026 as the benefits of the post-crisis adjustment begin to wane and external pressures persist. Nevertheless, growth is expected to converge towards the country's medium-term potential of about five percent. The World Bank also anticipates that inflation will stay within the Bank of Ghana's target band, assuming monetary policy easing remains data-dependent and external price shocks are carefully managed.

Tamoya Christie, a Senior Economist and co-author of the report, highlighted the current stability as an opportunity for Ghana to develop a more diversified and employment-intensive economy. She stressed that continued reforms are essential to preserving fiscal stability while removing structural barriers to private investment and market access.