Ghana economic recovery faces challenges in job creation and poverty reduction

Ghana has demonstrated significant macroeconomic recovery, with GDP growth reaching 6.0% in 2025 and accelerating to 6.4% in the first quarter of 2026. According to the World Bank’s 10th Ghana Economic Update, the country has successfully reduced inflation, rebuilt international reserves, and lowered its debt-to-GDP ratio from over 70% in 2024 to approximately 49% by the end of 2025.

Despite these indicators, experts from the World Bank and the Institute of Economic Affairs warn that the recovery is “structurally incomplete.” A major concern is the disconnect between headline growth and household welfare, as 56.4% of Ghanaians remain in poverty. Growth is currently concentrated in sectors with limited capacity to absorb the expanding young workforce.

Key structural risks include inefficiencies within the Ghana Cocoa Board (COCOBOD) and a strained transport sector. Poor road connectivity and high business costs are cited as barriers to diversification and productivity. To ensure durable growth, analysts recommend focusing on job creation, transport infrastructure reform, and continued fiscal discipline to translate stability into improved living standards.