Ghana surpasses $100 billion economy mark as recovery gains momentum -Ato Forson
Ghana’s economy has exceeded the $100 billion mark for the first time, a milestone Finance Minister Dr. Cassiel Ato Forson says reflects the country’s strong economic recovery and renewed growth under the administration of President John Dramani Mahama.
Speaking at a Diaspora Town Hall Meeting in London, Dr. Forson told members of the Ghanaian community that the country has made significant progress after emerging from one of the most severe economic crises in its history.
He recalled that in 2022 Ghana faced intense economic challenges, including a sharp depreciation of the cedi, soaring inflation, declining investor confidence, dwindling external reserves and loss of access to international capital markets. The situation led to multiple sovereign credit rating downgrades and strained access to external financing.
According to the Finance Minister, the Mahama administration has implemented difficult but necessary measures to restore stability and confidence in the economy.
“As a result of the measures taken by President Mahama, Ghana recorded a GDP growth rate of 6 percent in 2025, while non-oil GDP growth reached 7.6 percent, the highest in 14 years,” Dr. Forson said.
He noted that Ghana’s economy has now crossed the $100 billion threshold, making it a fully-fledged emerging economy and ranking among the largest economies on the African continent.
Dr. Forson further highlighted improvements in the country’s debt profile, revealing that Ghana’s debt-to-GDP ratio has declined to 44.7 percent, a target that had initially been projected to be achieved by 2034 under the International Monetary Fund-supported programme.
The Finance Minister also pointed to a significant decline in inflation, which he said dropped from 23.8 percent in December 2024 to 3.4 percent in April 2026. Treasury bill rates and the monetary policy rate have also fallen considerably, reducing borrowing costs and supporting economic activity.
On the external sector, he disclosed that Ghana recorded a current account surplus of 8.3 percent of GDP in 2025 and is on course to achieve a double-digit surplus this year.
Dr. Forson credited the economic gains to fiscal discipline and prudent management, stressing that the government remains committed to sustaining the recovery and ensuring long-term prosperity.
He also called on Ghanaians living abroad to support national development through investment and skills transfer, noting that diaspora remittances exceeded $7 billion in 2025.
“Ghana is open for business. We welcome our brothers and sisters in the diaspora to come home and contribute to nation-building,” he said.
