The World Bank (WB) has forecasted Ghana’s economy will grow by 4.2% in 2025 and 4.8% in 2026, according to its January 2025 Global Economic Prospects report.
However, these projections are still below the pre-COVID-19 growth average of 5%, indicating ongoing economic difficulties. The World Bank also revised its 2024 Gross Domestic Product (GDP) growth forecast for Ghana downward to 4.0%, down from an earlier estimate of 4.8% in the October 2024 Africa Pulse Report, which aligns with the International Monetary Fund’s (IMF) outlook.
The bank warned that risks to Ghana’s economic future are tilted to the downside. Key concerns include a sharper-than-expected slowdown in China, rising geopolitical tensions—particularly in the Middle East—and escalating political instability in East Africa and the Sahel.
Additionally, sustained inflationary pressures could keep global interest rates high, putting further strain on heavily indebted economies.
The report also highlighted the risks posed by extreme weather events, which could worsen poverty levels across Sub-Saharan Africa (SSA).
Meanwhile, economic growth in SSA is projected to improve from 2.9% in 2023 to 3.2% in 2024, though this remains 0.3 percentage points lower than earlier forecasts due to ongoing conflicts in Sudan and other country-specific challenges that have hindered recovery.
