Ghana’s economy is showing renewed momentum, with growth and private sector lending both recording significant improvements, according to the Bank of Ghana.
Governor Dr. Johnson Pandit Asiama, delivering opening remarks at the 131st Monetary Policy Committee (MPC) meeting, announced that the economy expanded by 6.4 percent in the first quarter of 2026, up from 6.2 percent a year earlier. He added that the GDP deflator eased to 4.1 percent, signaling moderating price pressures in the broader economy.
In a separate update, Dr. Asiama highlighted a sharp rebound in private sector credit. Real credit growth accelerated to 34.1 percent in June, compared to a 4.5 percent contraction recorded during the same period last year. “The turnaround in private sector lending reflects improved confidence in the financial system and stronger demand for investment capital,” he said.
The twin developments — rising GDP and surging credit — suggest that Ghana’s economy is regaining resilience despite inflationary pressures noted in recent months. Analysts say the expansion in credit could fuel business activity and job creation, though they caution that sustained growth will depend on maintaining fiscal discipline and ensuring that lending translates into productive investment.
The MPC is expected to deliberate on policy measures to balance inflation control with growth support, as households and businesses continue to grapple with rising transport costs and other price pressures.
The Bank of Ghana will announce its policy decisions at the close of the meeting later this week.
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