Professional services firm Deloitte has reiterated that the ongoing government initiatives, such as the 24-hour Economy Programme and the Accelerated Export Development Programme, are essential for unlocking the economy’s vast potential.
In its West Africa in Focus report, it said these initiatives aim to create more jobs, foster an enabling environment, and enhance investment opportunities.
Additionally, a decrease in inflation, along with a further reduction in the Bank of Ghana’s (BoG) monetary policy rate, is expected to support the anticipated growth in real Gross Domestic Product (GDP).
Furthermore, the firm stressed that the expansion of the Bibiani gold mine in Western Ghana will positively contribute to export revenues.
Outlook and Risks
The Ghanaian economy is projected to grow by 5.5% in 2025, 5.7% in 2026, and 6.0% in 2027.
According to Deloitte, this growth reflects a strong momentum in the overall economy and a reduced reliance on oil.
“However, several factors could impede these projections, such as fluctuations in cocoa production due to climate-related impacts, the spread of the swollen shoot virus, smuggling activities, and volatility in commodity prices. Furthermore, as global uncertainty ebbs, the attractiveness of gold will wane, ending the ongoing price rally of the commodity”, it warned.
Ghana recorded a 6.3% inflation in November 2025, cementing a single-digit achievement.
However, Deloitte said the key risks to Ghana’s inflation outlook include higher tariffs on utilities such as electricity and water, as well as persistently high domestic food prices.
Additionally, a possible fall in gold prices could impact the stability of the local currency and imported inflation.
However, it assured that these risks could be mitigated by still high interest rates and fiscal discipline.
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