Omanghana
Ghana’s economy remains resilient and has a positive outlook, supported by easing inflation, increased economic activity and relative stability in key macroeconomic indicators, according to Bank of Ghana Governor Dr. Johnson Pandit Asiama.
Provisional estimates indicate that the economy expanded by 6.4 percent during the first quarter of 2026, slightly above the 6.2 percent growth recorded during the corresponding period in 2025.
Dr. Asiama disclosed the figures during a stakeholder engagement and dinner organized by the central bank in Sunyani. The event brought together business owners, traders, commercial operators, trade associations and other private-sector representatives.
He attributed the improved performance mainly to strong activity within the industrial and services sectors. He also pointed to increased business operations, industrial production and the continuing recovery of Ghana’s tourism industry.
According to the Governor, declining commercial lending rates have made credit more accessible to businesses while contributing to improved consumer optimism and private-sector confidence.
He said the relative stability of the macroeconomic environment reflected the combined effect of measures implemented by the Bank of Ghana and the government.
Despite the encouraging domestic outlook, Dr. Asiama cautioned that Ghana remains exposed to external shocks because of its position as a small, open economy.
He identified ongoing geopolitical tensions in the Middle East as a major risk to inflation, energy costs and the country’s broader economic recovery.
An escalation of the conflict could disrupt global energy supply routes and push crude oil prices higher. As an energy-importing economy, Ghana could experience increased fuel costs, pressure on local pump prices and a possible setback to its inflation-control efforts.
Dr. Asiama said the central bank was monitoring developments closely, including their effects on international supply chains, energy markets and global investor confidence.
Although authorities hope the geopolitical crisis will be short-lived, he assured businesses that the Bank of Ghana was prepared to introduce additional measures if the situation persisted and began to significantly affect the domestic economy.
The Governor said Ghana’s foreign reserves, fiscal adjustments and continuing cooperation with international development partners had strengthened the country’s capacity to withstand external pressures.
He reiterated the central bank’s commitment to maintaining price stability, supporting sustainable investment and creating an economic environment in which businesses can expand.
Dr. Asiama also said the Sunyani engagement formed part of efforts to make the Bank of Ghana’s work more understandable, strengthen institutional transparency and rebuild public confidence in the central bank.
Source: Omanghana
