The World Bank says Ghana must sustain its recent economic recovery and translate improved macroeconomic stability into quality jobs and better livelihoods for citizens.

The call is contained in the Bank’s tenth Ghana Economic Update, titled “Reset for Growth: Sustaining Macroeconomic Recovery and Unlocking Transport for Transformation”.

The report says Ghana’s economic recovery deepened in 2025 with real Gross Domestic Product growth reaching 6 percent, supported largely by the services and agriculture sectors.

"Ghana’s GDP growth reached 6.0 percent in 2025, up from 5.8 percent in 2024 and the highest rate recorded since 2019. Non-oil GDP growth was 7.6 percent, reflecting expansion across a broader range of economic sectors and led by services and agricultural activity.”

It also noted significant improvements in inflation, international reserves and the fiscal position while Ghana’s primary surplus exceeded its target. 

"The 2025 fiscal outturn reflected a significant recovery from the 2024 slippages, with the government’s corrective measures yielding a primary surplus of 2.5 percent of GDP by end-2025—well above the IMF program target of 1.5 percent of GDP.”

Public debt also declined substantially following progress on the country’s comprehensive debt restructuring.

“The overall public debt-to-GDP ratio has declined substantially since 2022… The ratio fell from 92.7 percent at end-2022 to 49.0 percent at end-2025.”

However, the World Bank has cautioned that the recovery remains incomplete with economic growth yet to generate enough quality jobs for Ghana’s expanding working-age population.

World Bank Division Director for Ghana, Liberia and Sierra Leone, Robert Taliercio, says the next phase of Ghana’s recovery must focus on making the gains durable and inclusive.

“Ghana has made important progress in restoring stability after a difficult period, but the next phase must be about making the recovery durable and more inclusive.”

Robert Taliercio, however, cautioned that Ghana still faces significant challenges despite the economic gains recorded.

“Ghana is not out of the woods yet. The recovery remains structurally incomplete” he added. 

He said maintaining fiscal and monetary discipline, improving revenue mobilisation and protecting priority social and infrastructure spending will be critical to translating macroeconomic gains into improved welfare.

He added that the structure of economic growth also presents a challenge to job creation, particularly for Ghana’s growing young population.

“Growth is led by sectors with limited employment absorption relative to its growing young population entering the labor market in the next decade, a structural imbalance that also demands urgent attention.”

The World Bank projects Ghana’s economic growth will moderate to 4.8 percent in 2026 as post-crisis adjustment gains taper off and external pressures persist, before converging towards the country’s medium-term potential of about 5 percent.

The report also identifies Ghana’s transport sector as a major area requiring reform, saying weaknesses in the sector are increasing costs and constraining productivity, trade and job creation.

It also notes that roads carry more than 95 percent of passenger and freight traffic while much of the road network remains unpaved or in poor condition.

The Bank is therefore calling for improved road maintenance, better coordination among transport agencies, revitalisation of rail freight along key trade corridors, stronger road safety measures, climate-resilient transport planning and expanded digital logistics systems.

World Bank Transport Specialist and co-author of the report, Lain Rawson, says transport should be treated as central to Ghana’s growth and jobs agenda.

“Transport is not only an infrastructure issue; it is central to Ghana’s growth, jobs, and inclusion agenda.”

The report further says Ghana’s infrastructure ambitions including the “Big Push Infrastructure Programme” could support productivity and employment if investments are accompanied by stronger maintenance systems, better project preparation, improved governance and credible financing frameworks.

World Bank Senior Economist and co-author of the report, Tomoya Ohno, says Ghana has an opportunity to use its recent stabilisation gains to build a more diversified economy.

“The policy window is open. Ghana can use the current stabilization gains to build a more diversified economy and employment-intensive growth path, but doing so will require sustained reforms that protect fiscal stability while removing structural bottlenecks to private investment and market access.”

The Ghana Economic Update is an annual World Bank publication that reviews recent economic developments, assesses the medium-term outlook and examines key development priorities.