Ghana’s Economic Growth Projected at 4.2% in 2025 – World Bank
Accra, Ghana – February 11, 2025
Ghana’s economy is projected to expand by 4.2% in 2025 and 4.8% in 2026, according to the World Bank’s January 2025 Global Economic Prospects report. However, these figures remain below the pre-pandemic average of 5%, reflecting lingering economic challenges.
Revised Growth Forecast for 2024
The World Bank has lowered Ghana’s 2024 GDP growth projection to 4.0%, down from its initial 4.8% estimate in the October 2024 Africa Pulse Report. This aligns with the International Monetary Fund’s (IMF) forecast, signaling continued economic pressures.
Key Risks and Economic Concerns
The World Bank warns that risks to Ghana’s economic outlook remain skewed to the downside, citing:
- A potential slowdown in China, which could affect global trade.
- Geopolitical tensions, particularly in the Middle East and Africa.
- Political instability in East Africa and the Sahel.
- Prolonged inflationary pressures leading to high global interest rates.
- Extreme weather events, which could worsen poverty levels across Sub-Saharan Africa (SSA).
Regional Economic Outlook
Economic growth in Sub-Saharan Africa (SSA) is estimated to have improved from 2.9% in 2023 to 3.2% in 2024, although this remains 0.3 percentage points below earlier projections due to conflicts in Sudan and other regional challenges.
Policy Response Needed
With these uncertainties, policymakers face mounting pressure to implement measures that strengthen economic resilience and sustain long-term growth. The focus will be on fiscal discipline, investment in key sectors, and economic diversification to drive stable and inclusive growth in the coming years.
