Ghana Signals Economic Recovery

Ghana says its economy is rebounding from its worst crisis in a generation, with Finance Minister Ato Forson projecting 4.8% growth in 2026 as inflation falls, the cedi stabilises, and investor confidence returns following fiscal reforms.

Ghana has signalled a clear recovery from its worst economic crisis in a generation, with Finance Minister Cassiel Ato Forson projecting real GDP growth of at least 4.8 per cent in 2026, driven by fiscal discipline and renewed investor confidence.

Presenting the national budget to parliament, Dr Forson said the government’s reforms had stabilised the cedi, restored macroeconomic confidence, and sharply reduced inflation. Consumer inflation has fallen to 8 per cent in October, down from a record 54 per cent in January 2023, marking one of the fastest disinflation periods in the country’s history.

The minister outlined targets for a fiscal deficit of 4 per cent of GDP and a primary balance of 1.5 per cent from 2026, stressing that Ghana is on course to resume domestic borrowing next year as market conditions improve. He added that investor sentiment has strengthened on the back of tightened expenditure controls, debt restructuring measures, and improved monetary management.

Ghana’s economic rebound, after months of severe currency depreciation, soaring prices, and debt distress, highlights the impact of coordinated policy between the finance ministry and central bank. Officials say the priority now is consolidating gains while ensuring sustainable growth and protecting vulnerable households.

The government maintains that the turnaround reflects its commitment to prudent policymaking, with Dr Forson stating that the crisis has “taught Ghana the value of discipline and resilience”.

Ghana’s economic revival illustrates how coherent reforms and renewed confidence can transform a period of deep crisis into a path toward stability and recovery.