World Bank affirms Ghana’s growth rate at 4.8% in 2026

The World Bank has affirmed Ghana’s growth rate at 4.8% in 2026, its October 2026 Africa Economic Update has disclosed.

It is however projecting a 4.9% GDP growth for Ghana in 2027.

According to the Bretton Woods institution, the growth will be driven by the services sector, a recovery in oil and gas activities, and ongoing performance tied to structural and fiscal reforms under national programmes.

“In Ghana, economic activity remained robust in the second quarter of 2026, although growth moderated slightly. Real GDP expanded by 6.0% year-on-year, down from 6.6% in the same period in 2025”, it said.

On the expenditure side, the Bank said ahead of the Annual Meetings in Bangkok, Thailand, that growth was underpinned by strong domestic demand, with investment surging by 53.0% and domestic demand rising by 11.2%, signaling continued strength in private and public spending.

On the production side, services remained the main engine of growth, expanding by 8.0% and accounting for nearly three-fifths of overall GDP growth, with ICT activity rising by 30.9%. Industrial growth strengthened to 4.3% from 2.4% a year earlier, supported by a sharp increase in oil and gas production.

In contrast, agricultural growth slowed to 3.9% from 7.1%, reflecting a steep contraction in fishing activity.

Overall, the World Bank said growth remained concentrated in services, ICT, and hydrocarbons, while momentum weakened across parts of the non-oil economy.

Meanwhile, economic growth in the West and Central Africa (AFW) subregion is projected to remain steady at 4.5% in 2026, unchanged from 2025, before strengthening modestly to an annual average of 4.7% in 2027–28.

The report said subregional performance continues to be shaped by developments in Nigeria, the largest economy in AFW. Excluding Nigeria, growth is estimated to moderate from a robust 5.4% in 2025 to 5.0% in 2026, before recovering to an average of 5.3% during 2027–28.

Also, growth in Sub-Saharan Africa is expected to increase to 4.3% in 2026, but its poverty-reducing impact will likely remain limited.

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