Finance Minister Dr. Cassiel Ato Forson has announced that Ghana’s economy has crossed the $100 billion mark for the first time in the country’s history, describing the achievement as a major milestone in the country’s economic recovery.
Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, Dr. Forson said the development reflects sustained economic growth driven not only by the oil sector but also by strong performance across other sectors of the economy.
“For the first time in our nation’s history, the size of Ghana’s economy exceeded $100 billion, firmly establishing Ghana as a major emerging market economy,” he told Parliament.
The Finance Minister noted that Ghana’s economy expanded by 6.0% in 2025, the fastest growth rate recorded since 2019. He added that the country’s non-oil GDP grew by 7.6% during the same period—the highest in 14 years—showing that the recovery was broad-based rather than being driven solely by favourable commodity prices.
“Real GDP growth grew by 6.0% in 2025, the fastest pace of economic expansion since 2019. Instructively, non-oil GDP grew by 7.6% in 2025, the highest rate in 14 years, demonstrating that Ghana’s recovery extends well beyond favourable commodity prices,” he stated.
According to Dr. Forson, the positive momentum has continued into 2026, with the economy recording a 6.4% real GDP growth in the first half of the year.
He also revealed that Ghana’s per capita income increased significantly, rising from $2,527 in 2024 to $3,385 at the end of 2025—an increase of more than $850 and the highest level ever recorded in the country.
The Minister said the strong economic performance has positioned Ghana as the eighth-largest economy in Africa and is beginning to deliver tangible benefits for citizens.
“These are not mere statistics. They represent higher incomes, stronger businesses, greater opportunities, and an economy with an enhanced capacity to invest in its people,” he said.
Dr. Forson further highlighted improvements in key social indicators, stating that the unemployment rate declined from 13.7% during the first three quarters of 2024 to 12.8% over the same period in 2025.
He added that multidimensional poverty also fell from 24.9% to 21.9% within the same period, resulting in nearly one million Ghanaians experiencing better living conditions.
“This simply means that about 950,000 Ghanaians moved out of multidimensional poverty in just one year,” the Finance Minister said.
