BY Nadia Ntiamoah
The economy is expected to record a marginal improvement in growth next year, according to a new projection by Fitch Solutions, which anticipates Gross Domestic Product (GDP) rising from an estimated 5.8% in 2025 to 5.9% in 2026.
The outlook, contained in the UK-based firm’s November 2025 Sub-Saharan Africa report, paints a picture of steady but cautious progress as the country continues its path of economic recovery.
The firm attributes the slight uptick to easing inflation, which is expected to stimulate private consumption — the single largest driver of the economic activity.
After years of crippling price surges that eroded household purchasing power, 2025 saw a sharp and sustained fall in inflation, allowing consumers and businesses some breathing room. This improvement is forecast to continue into 2026.
However, Fitch Solutions warns that the growth momentum will be moderated by a combination of tight fiscal measures introduced under the economic restructuring programme, slow credit transmission from banks to the private sector, and a gradually strengthening cedi.
These factors, the firm notes, could limit the pace at which businesses expand or borrow for investment.
The latest data from the Ghana Statistical Service underscores the mixed dynamics at play. Ghana recorded a robust 6.3% growth rate in the second quarter of 2025 — a notable rise from the revised 5.7% posted in the same period in 2024.
This strong performance was driven primarily by household spending and increased fixed investments, both enhanced by the decline in inflation.
Among the key sectors, services continued to dominate economic activity. The sector — which includes finance, insurance, trade, education, and other service-based industries — posted an impressive 9.9% expansion in the second quarter, sharply higher than the 2% growth recorded a year earlier.
This rebound reflects increased consumer activity and renewed investor confidence, particularly in trade, financial services, and education.
