Assessing Ghana’s Recovery and Governance Direction What the 2026 State of the Nation Address Gets Right—and What It Leaves Unanswered

The SONA highlights the major macro-economic resurgence achieved in 2025. Ghana’s Gross Domestic Product (GDP) increased to 113 billion US Dollars in 2025 from 83 billion US Dollars in 2024, making Ghana one of the ten largest economies in Africa.  The average GDP growth rate for the first three quarters of 2025 averaged 6.1%.

The fiscal management aspect showed an improvement, with the government attaining a primary surplus of 2.6% of GDP, which is above the target of 1.5%. At the same time, the fiscal deficit decreased to 3.1%, which is lower than the projected 3.8%.

The management of the country’s debt also saw significant improvement, with Ghana’s public debt reducing by GH₵82.1 billion. As a result, the country’s debt-to-GDP ratio decreased from 61.8% to 45.3%. Additionally, the government made an early repayment of the US$709 million Eurobond, which is part of the US$1.4 billion debt repayment that the country had projected for 2025.

Pin It on Pinterest