The World Bank has maintained its forecast for Ghana’s economic growth at 4.8% for 2026, while projecting a modest increase to 4.9% in 2027.
The projection is contained in the Bank’s October 2026 Africa Economic Update, which said Ghana’s growth would be supported by the services sector, a recovery in oil and gas activities, and continued implementation of structural and fiscal reforms under national programmes.
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The World Bank said economic activity remained strong in the second quarter of 2026, although growth moderated slightly.
“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,” the report said.
Strong domestic demand
On the expenditure side, the Bank said growth was supported by strong domestic demand, with investment increasing by 53.0% and domestic demand rising by 11.2%.
It said the figures reflected continued strength in both private and public spending.
On the production side, the services sector remained the main driver of economic activity, expanding by 8.0% and accounting for nearly three-fifths of overall GDP growth.
The Bank noted that the information and communications technology (ICT) subsector recorded particularly strong growth of 30.9%.
Industrial growth also improved, rising to 4.3% from 2.4% a year earlier, supported by a significant increase in oil and gas production.
Agriculture, however, recorded slower growth of 3.9%, compared with 7.1% a year earlier, largely due to a sharp contraction in fishing activity.
The World Bank said Ghana’s overall growth remained concentrated in services, ICT and hydrocarbons, while momentum weakened in parts of the non-oil economy.
Regional outlook
Across the West and Central Africa subregion, economic growth is projected to remain steady at 4.5% in 2026, unchanged from 2025, before improving modestly to an average of 4.7% in 2027–28.
The report said regional performance continues to be influenced significantly by developments in Nigeria, the largest economy in the subregion.
Excluding Nigeria, growth is expected to moderate from 5.4% in 2025 to 5.0% in 2026, before recovering to an average of 5.3% in 2027–28.
Meanwhile, growth across Sub-Saharan Africa is expected to rise to 4.3% in 2026, although the World Bank cautioned that the expansion is likely to have a limited impact on poverty reduction.
