Ghana’s economy is projected to expand at a slower but more stable pace in 2026, with inflation expected to remain within single-digit territory, according to the latest outlook by the World Bank.

In its April 2026 Africa Economic Update, the World Bank forecasts that Ghana’s Gross Domestic Product (GDP) will grow by 4.8% in 2026, aligning with the government’s official projections outlined in the national budget. The estimate, however, represents a moderation from the stronger 6.0% growth recorded in 2025, signaling a shift from rapid post-recovery expansion to a more measured and sustainable growth trajectory.

The Bank also projects that inflation will end 2026 at approximately 9%, slightly above the government’s 8% target. Despite this marginal divergence, the outlook suggests that Ghana will maintain single-digit inflation, reinforcing gains made in macroeconomic stability over recent years. Inflation currently remains subdued, with recent data indicating levels around 3.2% as of March 2026, although analysts expect some upward pressure in the months ahead before easing toward the year-end forecast.

The anticipated slowdown in growth reflects a combination of domestic and external factors. Authorities have adopted a cautious stance in their projections, citing global economic uncertainties and potential external shocks. Rising geopolitical tensions—particularly in the Middle East—have already contributed to increased petroleum prices, posing upside risks to inflation and broader economic stability.

At the regional level, Sub-Saharan Africa is expected to record growth of about 4.1% in 2026, unchanged from the previous year. However, the World Bank warns that the region’s recovery from recent global shocks is losing momentum, with growth forecasts revised downward amid rising debt burdens, structural constraints, and persistent global uncertainties.

Despite these headwinds, Ghana’s outlook remains relatively resilient. Domestic demand—supported by private consumption and investment—continues to underpin growth, while favorable commodity prices, particularly for cocoa and gold, are expected to strengthen fiscal and external balances. A weaker U.S. dollar has also helped ease inflationary pressures across the region.

Overall, the World Bank’s projections paint a picture of an economy transitioning into a phase of stability, where sustaining macroeconomic gains and managing external risks will be key to maintaining growth momentum in the medium term.