Non-oil sector growth slows sharply, raising concerns over Ghana’s economic outlook – Minority

The Minority in Ghana has raised concerns over the slowing growth of the non-oil sector, suggesting it signals a weakening in the overall economic recovery. Dr Mohammed Amin Adam, Ranking Member of the Finance Committee's Parliament, noted non-oil GDP growth plummeted from 8.2% in the first half of 2025 to 5.9% in the same period of 2026.

This decline raises questions about the depth and durability of Ghana's economic expansion, especially as the government aims for a minimum 5.2% GDP growth rate in 2027. The headline figures, Adam explained, fail to fully capture the challenges faced by key productive sectors. For example, agriculture's growth rate dropped from 6.8% to 3.9% in the first half of 2026, while the fishing sector saw a steep 22.5% contraction.

Adam also pointed out that government spending increased by 9.3%, but questioned whether this spending was fueled enough by genuine investments and job-creating activities. He argued that the government's projected growth for 2027 does not provide a strong foundation for addressing unemployment issues. "The Minister does not believe in the budget," Adam said, adding that the projected growth is too modest to generate the employment opportunities young Ghanaians are eagerly seeking.

The Minority emphasized the need for the government to show how its proposed plans can reverse the non-oil sector slowdown and spur stronger growth across productive industries.