Ghana’s non-oil economy grew by 7.6 percent in 2025, marking its strongest performance in 14 years. Overall Gross Domestic Product (GDP) growth for the same year reached 6 percent. Finance Minister Dr. Ato Forson announced these figures, describing them as indicators of the country's economic recovery and resilience.
This significant growth pushed Ghana’s economy past the GHS 1.3 trillion ($100 billion) mark for the first time. The achievement underscores the success of economic measures implemented by the Mahama administration. These measures aimed to restore stability following a severe economic crisis that began in 2022.
The 2022 crisis featured high inflation, a depreciating currency, and declining investor confidence. Ghana also faced pressure on its foreign reserves and lost access to international capital markets. Multiple sovereign credit rating downgrades made it difficult for government and businesses to secure external funding. The current positive trajectory, therefore, reflects a notable turnaround in Ghana's economic fortunes.
Dr. Forson stated, “As a result of the measures taken by President Mahama, Ghana recorded a GDP growth of 6 percent in 2025, with non-oil GDP growth reaching 7.6 percent, the highest in 14 years.” He made this declaration at a Diaspora Town Hall Meeting in London. President John Dramani Mahama and members of the Ghanaian community in the United Kingdom attended the event.
Ghana’s economic indicators show widespread improvement. Inflation decreased from 23.8 percent in December 2024 to 3.4 percent in April 2026. Interest rates across the financial sector have also declined. The country's debt-to-GDP ratio has fallen to 44.7 percent, significantly exceeding targets set under its economic recovery program. These developments suggest a continued focus on fiscal discipline and sound economic management.
The government remains committed to maintaining macroeconomic stability and promoting private sector growth. Decision-makers will closely monitor these trends, especially as global economic conditions evolve. A sustained period of growth will boost investor confidence and support job creation. Ghana's engagement with its diaspora, which contributed over GHS 91 billion ($7 billion) in remittances in 2025, will also play a crucial role in national development.