Ghana records strongest non-oil growth in 14 years, Ato Forson reveals
Finance Minister Dr. Cassiel Ato Forson has announced that Ghana recorded its strongest non-oil economic growth in 14 years in 2025, describing the achievement as a clear sign of the country’s economic recovery and resilience.
Speaking at a Diaspora Town Hall Meeting in London attended by President John Dramani Mahama and members of the Ghanaian community in the United Kingdom, Dr. Forson said Ghana’s non-oil GDP growth reached 7.6 percent in 2025, while overall GDP growth stood at 6 percent.
According to him, the figures demonstrate the success of measures introduced by the Mahama administration to restore economic stability following the severe economic challenges that confronted the country in recent years.
Dr. Forson recalled that Ghana experienced a major economic crisis in 2022, characterized by high inflation, a depreciating currency, declining investor confidence, pressure on foreign reserves and loss of access to international capital markets.
He noted that the crisis resulted in repeated sovereign credit rating downgrades and made it difficult for government institutions and businesses to access external financing.
Despite those challenges, the Finance Minister said prudent fiscal management and economic reforms implemented by the government have helped reverse the country’s fortunes.
“As a result of the measures taken by President Mahama, Ghana recorded a GDP growth of 6 percent in 2025, with non-oil GDP growth reaching 7.6 percent, the highest in 14 years,” he told the gathering.
Dr. Forson also highlighted other positive economic indicators, including a reduction in inflation from 23.8 percent in December 2024 to 3.4 percent in April 2026 and a decline in interest rates across the financial sector.
He further revealed that Ghana’s economy has surpassed the $100 billion mark for the first time, strengthening its position among Africa’s leading economies.
On debt sustainability, he said Ghana’s debt-to-GDP ratio has fallen to 44.7 percent, significantly ahead of targets outlined under the country’s economic recovery programme.
The Finance Minister stressed that the gains achieved so far are evidence that fiscal discipline and sound economic management deliver results.
He assured Ghanaians that the government remains committed to maintaining macroeconomic stability, promoting private sector growth and creating opportunities for jobs and investment.
Dr. Forson also encouraged Ghanaians living abroad to play a greater role in national development, noting that diaspora remittances contributed more than $7 billion to the economy in 2025.
He described the diaspora as a vital partner in Ghana’s development and urged them to take advantage of emerging opportunities in the country’s growing economy.
