Ghana’s Economy Surpasses $100 Billion, Becomes Africa’s 8th Largest – Ato Forson

Finance Minister Dr Cassiel Ato Forson has announced that Ghana’s economy has surpassed the $100 billion mark for the first time in the country’s history, describing the achievement as a significant milestone in the nation’s economic growth.

Presenting the 2026 Mid-Year Fiscal Policy Review in Parliament on Thursday, July 23, Dr Forson attributed the achievement to sustained economic growth and reforms introduced since 2025.

According to the Finance Minister, Ghana’s real Gross Domestic Product (GDP) grew by 6.0% in 2025, the fastest annual growth rate recorded since 2019. He noted that non-oil GDP expanded by 7.6%, the highest growth in 14 years, demonstrating that the country’s economic recovery extends beyond the oil sector.

“This demonstrates that Ghana’s recovery extends well beyond favourable commodity prices,” Dr Forson told Parliament.

He said the economy has maintained its strong performance in 2026, with real GDP growth reaching 6.4% during the first half of the year, surpassing government projections.

“For the first time in our nation’s history, the size of Ghana’s economy has exceeded $100 billion, firmly establishing Ghana as a major emerging market economy,” Dr Forson stated.

He further announced that Ghana is now ranked as the eighth-largest economy in Africa, reflecting the country’s growing economic influence on the continent.

The Finance Minister also revealed a significant rise in per capita income, which increased by more than $850 within a year—from $2,527 in 2024 to $3,385 by the end of 2025.

“These are not mere statistics,” Dr Forson said.

“They represent higher incomes, stronger businesses, greater opportunities, and an economy with a greater capacity to invest in its people.”

The announcement forms part of the government’s broader case that the economic reforms implemented since President John Dramani Mahama assumed office in January 2025 have strengthened Ghana’s macroeconomic performance and accelerated the country’s recovery.