Ghana’s per capita income rose to US$3,385 in 2025, the first time the country has reached that level, Finance Minister Dr. Ato Forson told Parliament.
Presenting the government’s economic update to Ghanaians through Parliament, Dr. Forson said the milestone reflects broad-based growth and improved macroeconomic stability.
He reported that real GDP expanded by 6.0% in 2025, the fastest rate since the pandemic, while non-oil GDP grew 7.6%, the highest in 14 years.
The economy also crossed the US$100 billion threshold for the first time, making Ghana an emerging market economy by size.
The country is now ranked the 8th largest economy in Africa.
Dr. Forson attributed the gains to fiscal discipline as the primary balance posted a surplus of 2.5% of GDP, and the public debt-to-GDP ratio fell sharply from 61.8% in 2024 to 44.7% at the end of 2025.
Ghana hit the 45% debt-to-GDP target well ahead of both the IMF programme timeline and the Public Financial Management Act target of 2034.
Debt service pressures eased as well with debt service-to-revenue ratio dropped from 55.7% in 2022 to 28.8% in 2025, even with full Eurobond payments resuming.
Ghana’s debt distress rating improved from high risk to moderate risk under the Debt Sustainability Analysis.
Inflation cooled significantly, falling from 23.8% in December 2024 to 3.4% in April 2026.
Interest rates followed suit: the 91-day Treasury bill yield dropped over 2,300 basis points to 4.8%, while 2-, 3-, and 5-year bonds now trade between 11.0% and 12.6%, down from 20% a year earlier.
The monetary policy rate was cut by 1,300 basis points to 14.0%.
External accounts strengthened, with the current account posting an 8.3% of GDP surplus in 2025 and the cedi appreciating 40.7% against the US dollar over the year.
“These results affirm a simple but enduring truth: fiscal prudence and discipline always deliver results,” Dr. Forson said.
