Finance Minister Dr. Cassiel Ato Forson has announced that Ghana’s economy achieved a robust 5.3% growth in the first half of 2025, the strongest performance since the COVID‑19 disruptions in 2020.
This growth significantly exceeded the government’s growth target of 4.4% for the year.
Ghana’s economic growth in the first half of 2025 was underpinned by strong performances across key sectors.
Agriculture grew by 6.6%, boosted significantly by a 16.4% surge in fishing, which helped curb food inflation and improve rural livelihoods.
The services sector, accounting for nearly half of GDP, expanded by 5.9%, driven mainly by a 13.1% jump in information and communication technology.
Industry also posted growth of 3.4%, with manufacturing rising by 6.6%, signaling a revival in domestic production. Overall, non-oil GDP rose by 6.8%, the highest since 2018.
During the Mid‑Year Budget Review today, 24 July 2025, Dr. Forson stated:
“Despite global economic uncertainties, Ghana’s economy recorded growth of 5.3%, up from 4.9% last year. This is the highest first‑half performance since 2020.”
He credited this success to fiscal discipline, macro‑financial stability, and targeted reforms, including the ongoing IMF‑backed stabilization efforts.
Ghana’s broader economic outlook shows marked improvement, with inflation falling from 23.8% in December 2024 to 13.7% by June 2025, helping to support real incomes and domestic demand.
The cedi has appreciated by about 42.6% year-to-date, enhancing business confidence while reducing production and import costs.
Sustaining this growth will depend on continued policy coordination and targeted investment, particularly through initiatives like the 24-Hour Economy and Agricultural Transformation.
The positive indicators may bolster Ghana’s standing with the IMF and credit rating agencies.
Key developments to watch include mid-year budget adjustments, further disinflation, currency trends, and private sector investment responses.
By: J.W. Quarm
