Ghana set for continued economic growth through 2026 - BoG Governor

The Governor of the Bank of Ghana, Dr Johnson Asiama, has emphasised that Ghana’s economy is on track for sustained growth over the next two years.

He noted that the positive outlook is supported by solid macroeconomic indicators and stronger real-sector activity.

Delivering the opening remarks at the 127th Monetary Policy Committee (MPC) meeting on Monday, November 24, 2025, Dr Asiama said current data from the central bank points to a steady expansion of the economy through 2026.

He attributed the expected performance to a strong harvest season, improved food supply conditions, increased foreign exchange liquidity, and an easing credit environment.

MPC begins 127th meeting amid inflation drop and cedi fluctuation

“Looking ahead, the growth outlook remains favourable. Staff projections, supported by recent real-sector indicators, suggest that the economy will maintain a steady expansion path through 2026. The strong harvest season, improved food supply dynamics, enhanced FX liquidity, and the easing credit environment all provide support for continued growth. The non-oil sectors, services, industry, and agriculture, are expected to remain the key drivers,” he said.

He also highlighted improvements in the broader macroeconomic environment. Money supply growth has slowed significantly, helping to anchor inflation, while high real interest rates provide room for a measured and gradual reduction in the policy rate.

Dr Asiama noted that inflation is expected to fall to between 4% and 6% by the end of 2025 and remain within the central bank’s target range throughout 2026.

“With inflation likely to settle between 4–6 percent by year-end before stabilising around the target band in 2026, Ghana is entering what could become a multi-year period of price stability,” he added.

The MPC began its meetings on Monday, November 24, 2025, and is expected to conclude on Wednesday, November 26, 2025. The meeting comes at a time when the cedi has experienced relative stability following a brief depreciation earlier in the year.

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