Fitch Solutions maintains 6% GDP growth forecast for Ghana in 2026

Fitch Solutions has reaffirmed its economic outlook for Ghana, maintaining a projected Gross Domestic Product (GDP) growth rate of nearly 6.0% for 2026. This positive forecast is rooted in the country's demonstrated economic resilience, which the agency attributes to sustained high global gold prices and a period of relatively low domestic inflation. The analysis suggests that the extractive sector will remain a cornerstone of the nation's economic performance in the mid-term.

Despite the strong outlook for 2026, the firm warned of a projected loss of momentum in the following year. Fitch Solutions expects Ghana's growth rate to decelerate to 4.7% in 2027 as various macroeconomic pressures begin to take a heavier toll. Key factors cited for this slowdown include a tightening of monetary policy intended to manage liquidity and the persistent impact of the El Niño weather phenomenon, which continues to threaten domestic agricultural productivity and supply chains.

On the international trade front, the report offers a more favorable outlook, projecting a current account surplus of 5.3% of GDP by 2027. While high energy prices are expected to dampen domestic demand by increasing the cost of living and production, they are simultaneously projected to bolster national export earnings. As an oil-exporting economy, Ghana is positioned to benefit from elevated global energy costs, providing a critical buffer for the state's external accounts even as internal consumption growth faces headwinds.