Ghana is on track for robust economic growth in 2026, according to forecasts by UK-based research firm Fitch Solutions. The agency predicts that Ghana will outperform many of its emerging-market peers, thanks to solid macroeconomic fundamentals demonstrated in 2025. Analysts say this momentum is expected to continue into next year, signaling a strong recovery for the West African economy.
Speaking at the 2026 PricewaterhouseCoopers (PwC) post-budget forum in Accra on November 19, Fitch Solutions’ Assistant Director Mike Kruiniger described the country’s growth outlook as “particularly impressive.” He highlighted that the 2026 budget is broadly supportive of growth, reinforcing the firm’s projection that real GDP will rise slightly from 5.8% in 2025 to 5.9% next year.
The growth is expected to be fueled by private consumption and a rebound in fixed investment, which suffered a sharp contraction in 2023. Kruiniger added that Ghana’s economic performance is not only strong by historical standards but also favorable compared to global peers, including China, Indonesia, and Kenya. “Ghana’s growth story in 2026 will be one of outperformance,” he emphasized.
However, the forecast comes with caution. Fitch Solutions warned that the escalating Islamist insurgency in the Sahel region could pose risks to Ghana’s investment climate, fiscal health, and macroeconomic stability. While Ghana has so far remained relatively insulated from violent spillovers, the potential for regional instability may require increased military spending to protect the economy.
Despite these concerns, Ghana’s resilience remains a positive factor. Kruiniger noted that the northern terrain and stronger state control in northern Ghana help shield the country compared to neighbors like Benin or Côte d’Ivoire. While Islamist groups are gaining ground in Mali and the Sahel, Fitch Solutions’ base case assumes Ghana will largely avoid major attacks, allowing economic growth to continue on its upward trajectory.
source: citi newsroom