The African Development Bank (AfDB) has projected Ghana’s economic growth at 5 percent in 2026, with the country’s economy expected to expand further to 5.4 percent in 2027.
The latest projection places Ghana among the stronger-performing economies in West Africa, reflecting improving macroeconomic conditions and renewed investor confidence.
The Bank’s forecast is slightly higher than the 4.8 percent growth estimate earlier projected by both the International Monetary Fund (IMF) and the World Bank.
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According to the AfDB’s 2026 African Economic Outlook Report, inflation in Ghana is expected to decline significantly and end the year at 9 percent as price pressures continue to ease amid improving macroeconomic stability.
The report further noted that Ghana’s economic growth would be supported by ongoing fiscal reforms, stronger external balances, and improved economic management.
On the fiscal front, the AfDB projected that Ghana’s fiscal deficit will narrow from 2.6 percent of Gross Domestic Product (GDP) in 2026 to 2.2 percent in 2027.
Ghana is also expected to maintain a strong current account position, recording a surplus of 3 percent of GDP in 2026 before easing slightly to 2.7 percent in 2027.
The report said the country’s external resilience remains relatively firm despite prevailing global economic uncertainties.
More broadly, the African Development Bank projected West Africa’s economy to grow by 4.7 percent in 2026, driven by strong agricultural production, expanding agro-processing value chains, and sustained investments in infrastructure, transport and energy.
However, the Bank cautioned that geopolitical tensions, rising global oil and fertilizer prices, and persistent supply chain disruptions continue to pose downside risks to African economies, including Ghana.
The report also stressed the need for African countries to strengthen domestic resource mobilization, deepen regional trade integration, and improve fiscal management to reduce vulnerability to external shocks and support long-term economic resilience.
Analysts believe sustained reforms and prudent economic management could further boost Ghana economic growth and consolidate the country’s recovery momentum in the coming years.