The Ministry of Finance has highlighted significant improvements in Ghana’s macroeconomic performance, citing lower inflation, reduced interest rates, and a stronger cedi as signs of a broad-based economic recovery in 2025.
In a press statement dated February 23, 2026, the Ministry reported that provisional real GDP growth reached 6.1 percent year-on-year in the first three quarters of 2025, driven mainly by the services and agriculture sectors. Non-oil GDP growth was even stronger at 7.5 percent, compared to 5.8 percent during the same period in 2024.
Inflation, which remained high at the end of 2024, declined consistently for thirteen consecutive months — falling from 23.5 percent in January 2025 to 3.8 percent by January 2026.
Interest rates also saw a marked reduction. The 91-day Treasury bill rate dropped from 27.7 percent at the end of 2024 to 6.5 percent in February 2026. Meanwhile, average commercial lending rates eased from 30.25 percent in 2024 to 20.45 percent in 2025.
The Ghana cedi strengthened significantly against major international currencies, appreciating by 40.7 percent against the US dollar by the end of December 2025. It also gained 30.9 percent against the pound sterling and 24.0 percent against the euro.
Ghana’s current account recorded a surplus of US$9.1 billion, while gross international reserves rose to US$13.8 billion — equivalent to 5.7 months of import cover.
The Ministry attributed the improvements to coordinated fiscal and monetary policies aimed at stabilising the economy and restoring investor confidence. It emphasised that maintaining macroeconomic stability remains central to the government’s strategy to sustain growth, boost private sector activity, and improve living standards.
