The African Development Bank projects Ghana’s economy to expand by 5 percent in 2026, with growth expected to strengthen further to 5.4 percent in 2027, positioning the country among the stronger-performing economies in West Africa.
The projection is marginally higher than the 4.8 percent growth forecast by both the International Monetary Fund and the World Bank.
According to the Bank’s 2026 African Economic Outlook Report, Ghana’s inflation rate is projected to end the year at 9 percent. This is higher than the current inflation range of about 3 percent being recorded by the country, reflecting expectations of improving macroeconomic stability and easing price pressures.
The report also anticipates a gradual improvement in Ghana’s fiscal position, with the fiscal deficit projected to narrow from 2.6 percent of GDP in 2026 to 2.2 percent in 2027.
On the external front, Ghana is expected to maintain a relatively strong current account position, with a surplus of 3 percent of GDP in 2026 before moderating slightly to 2.7 percent in 2027, underscoring resilience in the country’s external sector despite prevailing global uncertainties.
More broadly, the African Development Bank projects West Africa’s economy to grow by 4.7 percent in 2026, supported by robust agricultural output, expanding agro-processing value chains, and sustained public investment in infrastructure, energy and transport systems.
However, the Bank cautioned that rising geopolitical tensions, elevated global oil and fertilizer prices, and persistent supply chain disruptions remain significant downside risks to African economies, including Ghana.
The report further stressed the need for African countries to strengthen domestic resource mobilization, deepen regional trade integration, and improve fiscal management to reduce exposure to external shocks and enhance economic resilience.
