Ghana’s economy showed strong momentum in the second quarter of 2025, expanding by 6.3% year-on-year compared to 5.7% in the same period last year. The Ghana Statistical Service said the rebound was largely driven by a surge in the services sector, which includes finance, insurance, trade, and education.
Government statistician Alhassan Iddrisu explained that services grew by 9.9%—a massive leap from just 2% last year. “In fact, it contributed the most growth in the quarter. It added four percentage points to the 6.3 percent growth we recorded,” he told reporters in Accra.
The data highlighted a broad recovery, with non-oil GDP jumping 7.8%. Agriculture also saw steady gains, though the oil sector contracted due to weaker global demand. Analysts say this shift shows how services and agriculture are becoming key drivers of Ghana’s growth story.
For a country that only recently battled its worst economic crisis in decades—marked by high debt, a struggling cedi and soaring inflation—the signs of recovery are encouraging. Debt restructuring and reforms, alongside stronger non-oil activity, have helped restore investor confidence and reduce pressure on households.
Adding to the positive news, inflation slowed to 11.5% in August, the lowest level since October 2021. The finance ministry has set a year-end target of 11.9%, giving policymakers more breathing space to support growth without losing fiscal balance.
Looking ahead, both investors and policymakers will be watching closely to see if Ghana can sustain this growth momentum while keeping its fiscal house in order. The coming months may prove critical in shaping the country’s long-term economic resilience.
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