Ghana is projected to overtake Ethiopia in Africa’s economic rankings, with its Gross Domestic Product (GDP) expected to reach US$128.64 billion by 2026, according to International Monetary Fund (IMF) projections.
The forecast highlights Ghana’s growing economic importance, supported by exports of gold, cocoa, oil and gas, as well as an expanding domestic consumer market. Gold remains one of the country’s most important export commodities, contributing to foreign exchange earnings and economic activity.
Although Ghana is expected to record a higher GDP in dollar terms, Ethiopia’s economy is projected to grow faster in real terms. However, the depreciation of Ethiopia’s currency, the birr, has reduced the dollar value of its economic output, influencing its position in Africa’s GDP rankings.
Despite Ghana’s improving macroeconomic outlook, the country faces the challenge of translating economic gains into sustainable job creation, increased investment and industrial development.
Economists and policymakers continue to emphasise the importance of strengthening local manufacturing, attracting private-sector investment and expanding productive industries to ensure that economic growth delivers tangible benefits for businesses and households.
Ghana’s projected economic performance in 2026 could strengthen its position among Africa’s leading economies, but sustaining that progress will depend on investment, productivity and the creation of employment opportunities.
Source: newsthemegh.com