Ghana’s economy set to expand by 4.5% in 2025 – AfDB

The African Development Bank (AfDB) expects Ghana’s economy to grow by 4.5% in 2025. This growth will be driven by a strong mining sector, ongoing fiscal consolidation, and higher interest rates. The information comes from the latest African Economic Outlook report released at the AfDB Annual Meetings in Abidjan, Côte d’Ivoire.

The report analyzes key economic indicators for member countries. It covers GDP growth, inflation, fiscal balance, debt sustainability, and external accounts. It also highlights potential risks to economic stability in West Africa.

Looking ahead, the AfDB projects Ghana’s GDP growth will rise to 4.8% in 2026. This increase is supported by stronger macroeconomic fundamentals.

Ghana’s government has provided more conservative estimates. Finance Minister Dr. Ato Forson set overall GDP growth at 4.0% for 2025. Non-oil GDP growth is targeted at 4.8%.

The World Bank's April 2025 Africa’s Pulse report predicts Ghana will grow by 3.9% in 2025. It expects growth to reach 4.6% in 2026 and 4.8% by 2027. However, it warns that climate variability could impact cocoa yields and prices.

The International Monetary Fund (IMF) revised its forecast for Ghana's GDP growth to 4.0% for 2025, matching the government's estimate. The IMF also anticipates a growth rate of 4.8% in 2026.

On inflation, the AfDB is less optimistic than the government forecasts. The Ministry of Finance expects end-2025 inflation at