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Ghana’s per capita income could rise threefold by 2050 if the country pursues ambitious economic reforms, the World Bank has said in its latest 2025 Policy Notes on Ghana.
The Bretton Woods institution projected that with comprehensive reforms focused on boosting productivity, enhancing infrastructure services, and improving human capital and workforce skills, Ghana could sustain annual growth rates of around 6.5%.
Currently, Ghana’s per capita income stands at about US$2,353, with average growth hovering around 4.0% since the COVID-19 pandemic.
The World Bank stressed that Ghana must shift from a growth model driven largely by factor accumulation and natural resource depletion to one anchored on productivity and human capital development.
On macroeconomic stability, the report urged the government to step up domestic revenue mobilisation, strengthen expenditure management, and address liabilities from state-owned enterprises, calling these essential steps to create “a virtuous cycle of growth and macro stability.”
To safeguard fiscal consolidation, the Bank advised strict adherence to fiscal rules, continued alignment with IMF programme targets, avoidance of excessive foreign exchange interventions, and caution against an early return to the Eurobond market.
On jobs and productivity, particularly for Ghana’s youth, the World Bank underscored the need for robust and inclusive growth, describing it as crucial not only for employment creation but also for fiscal resilience and debt sustainability.
Key priority areas highlighted include improving the business climate, expanding access to finance, enhancing trade facilitation, and upgrading trade logistics such as roads and port infrastructure.
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