The African Development Bank has projected that Ghana’s economy will expand by 5 percent in 2026, with growth expected to strengthen further to 5.4 percent in 2027, placing the country among the stronger-performing economies in West Africa.
The forecast, contained in the Bank’s 2026 African Economic Outlook Report, is slightly higher than the 4.8 percent growth projections earlier issued by the International Monetary Fund and the World Bank.
According to the report, Ghana’s improving macroeconomic conditions, stronger fiscal management and resilient external sector are expected to support the country’s growth momentum over the medium term.
Inflation and Fiscal Outlook Improve
The AfDB also projected that Ghana’s inflation rate would end 2026 at 9 percent, reflecting expectations of easing price pressures and improving macroeconomic stability.
The report further anticipated a gradual narrowing of the fiscal deficit, which is expected to decline from 2.6 percent of GDP in 2026 to 2.2 percent in 2027.
On the external front, Ghana is forecast to maintain a relatively healthy current account position, with a surplus of 3 percent of GDP in 2026 before easing slightly to 2.7 percent in 2027.
The projections suggest continued resilience in Ghana’s external sector despite ongoing global economic uncertainties and volatility in international commodity markets.
West Africa Growth Outlook
Beyond Ghana, the African Development Bank expects the West African economy to grow by 4.7 percent in 2026, driven by stronger agricultural production, expanding agro-processing industries and sustained public investment in infrastructure, transport and energy projects.
However, the Bank warned that African economies still face significant downside risks from rising geopolitical tensions, elevated global oil and fertiliser prices and persistent supply chain disruptions.
The report stressed the need for African countries to strengthen domestic revenue mobilisation, improve fiscal discipline and deepen regional trade integration to reduce vulnerability to external shocks.
The AfDB noted that sustained reforms and investments in productive sectors would remain critical to supporting long-term economic resilience and inclusive growth across the continent.
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