World Bank maintains Ghana’s growth rate forecast at 4.8% in 2026
According to the Bretton Woods institution, the growth will be driven by the services sector, a recovery in oil and gas activities, and ongoing performance tied to structural and fiscal reforms under national programmes.
The World Bank has kept its projection of Ghana's economic growth at 4.8% for the year 2026, according to its October 2026 Africa Economic Update. For the following year, 2027, the institution anticipates a slightly higher growth rate of 4.9%. The key drivers behind this growth are expected to be the service sector, a rebound in oil and gas activities, and ongoing structural and fiscal reforms initiated by the Ghanaian government.
The World Bank's assessment of Ghana's economic activity in the second quarter of 2026 indicates that while growth has slowed slightly, it remains robust. Real GDP increased by 6.0% year-on-year, a deceleration from the 6.6% growth observed in the same period a year prior.
The World Bank's forecast is based on the strength of domestic demand, which is being fueled by a surge in investment (up 53.0%) and a rise in domestic demand (up 11.2%). The service sector is the primary engine of this growth, expanding by 8.0% and contributing nearly two-thirds of the total GDP growth. Information and communication technology (ICT) activities have also shown significant growth, increasing by 30.9%.
Meanwhile, industrial growth has strengthened to 4.3%, aided by a sharp rise in oil and gas production. However, agricultural growth has decelerated to 3.9%, primarily due to a sharp decline in fishing activity.
The World Bank projects that economic growth in the West and Central Africa (AFW) subregion will remain steady at 4.5% in 2026, unchanged from the previous year, before slightly increasing to an average of 4.7% in 2027-28. This subregional growth is largely influenced by developments in Nigeria, the largest economy in the AFW. When Nigeria is excluded from the calculations, growth is forecast to moderate from an impressive 5.4% in 2025 to 5.0% in 2026, before recovering to an average of 5.3% during 2027-28.
The report also notes that while growth in Sub-Saharan Africa is expected to rise to 4.3% in 2026, its potential to reduce poverty remains limited.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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