World Bank maintains Ghana’s 2026 growth forecast at 4.8%
By Ashiadey Dotse The World Bank has maintained its economic growth forecast for Ghana at 4.8% for 2026, citing stronger economic activity, falling inflation and progress in the country’s debt restructuring. In its October 2026 Africa Economic Update: Building AI-Readiness report, the Bank expects the economy to grow by 4.9% in 2027 and 5.0% in […]
The World Bank has retained its forecast for Ghana's economic growth at 4.8% for 2026, highlighting improved economic activity, decreasing inflation, and advancements in the country's debt restructuring. In its October 2026 Africa Economic Update: Building AI-Readiness report, the Bank anticipates the economy to expand by 4.9% in 2027 and 5.0% in 2028. This projection stands in contrast to the 5.8% growth in 2024 and 6.0% in 2025.
Despite a deceleration from the robust 5.8% growth in 2024 and the 6.0% growth in 2025, Ghana's economic recovery remains robust, bolstered by domestic demand and the burgeoning digital services sector. The economy registered a 6.0% growth in the second quarter of 2026, driven by a 53% surge in investment and an 11.2% uptick in domestic demand.
Services sector emerged as the key driver, expanding by 8%, with Information and Communications Technology (ICT) registering an even more impressive growth rate of 30.9%. Industrial sector also showed improvement, growing by 4.3%, partly attributable to augmented oil and gas production. However, agricultural sector's growth slowed to 3.9%, mainly due to a dip in fishing activity.
Moreover, the Bank projects inflation to continue its downward trajectory, declining from 14.2% in 2025 to 8% in 2026, with the rate expected to stabilize around this level through 2028. Ghana's debt situation has also witnessed a significant improvement. Public debt dropped from 70.1% of GDP in 2024 to 48.8% in 2025, although it is anticipated to slightly rise to 52.6% in 2026.
The World Bank attributes this progress to the successful completion of Ghana's debt restructuring and continued fiscal consolidation under the International Monetary Fund (IMF) programme, which have bolstered investor confidence. The Bank also noted that Ghana's sovereign spreads fell from approximately 2,828 basis points in 2023 to 239 basis points as of August 2026.
The World Bank also sees artificial intelligence as a significant tool in alleviating poverty, provided that access to technology is expanded to poorer and underserved communities. It believes that increased accessibility to digital technology and AI-driven opportunities could contribute to making Ghana's economic growth more inclusive.
Written by urgent.news from GBC Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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