Fitch Solutions is anticipating robust economic growth for Ghana over the remainder of 2025.
In its September 2025 Monthly Outlook, the UK-based firm said easing inflation helped by a stronger exchange rate will support growth over the remainder of the year, although fiscal consolidation, high interest rates, and plateauing oil production will cause the economy to slow from the robust 5.7% recorded in 2024.
“We have revised our 2025 real GDP [Gross Domestic Product] growth forecast for Ghana from 4.2% to 4.9%, following a stronger-than-expected Q1 [quarter one] outturn of 5.3% year-on-year, underpinned by improved agricultural outputs”.
“In 2026, we expect growth to remain robust at 5.0%, driven by lower inflation, monetary easing, and a likely uptick in public spending as Ghana’s IMF [International Monetary Fund] programme concludes—historically followed by fiscal slippage”, it added.
In July 2025, the Ghana Statistical Service reported that Ghana’s economic growth slowed down to 4.5%, compared to 8.3% during the same period in 2024.
The Agriculture sector posted the strongest growth, expanding by 8.0% in July 2025, a significant rebound from 2.4% in July 2024.
Meanwhile, Fitch Solutions also says inflation will ease further to 8.0% by year-end.
“Inflation has slowed to 11.5% year-on-year in August, its lowest level in four years, and will ease further to 8.0% by year-end. A relatively strong cedi and subdued global energy prices will support consumer confidence and private consumption”.
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