Ghana’s economy is expected to expand by 5.67% in 2026, Databank has disclosed.

Without oil, the real Gross Domestic Product (GDP) of the country is estimated at 5.95%.

According to its 2026 Outlook report, this will mark an expansionary phase supported by further monetary easing and selective fiscal stimulus.

“Our forecast is firmly anchored in expectations of higher year-on-year output from policies rolled out in 2025, key among them being the Big Push initiative, export promotion, road construction, and the ‘one million coders’ programme”.

Services Sector

The research firm projected sustained expansion in the services sector, reaching a median growth rate of 9.6% by the end of 2026, as further benchmark rate cuts stimulate consumption across sub-sectors.

“The ripple effects of incentives to advance the 24-hour economy agenda and the uncapping of selected statutory funds (GETFund, NHIF, Road Fund) to support key sub-sectors are among the social interventions expected to sustain growth momentum”, it added.

Although mounting wage pressures and rising labour supply amid limited job absorption could heighten strike risks, it indicated that the effective rollout of the Ghana Labour Export Programme may cushion labour market pressures and sustain growth momentum.

Agriculture Sector

It also foresees the agriculture sector growth recovery being sustained in 2026, expanding by 7.95% as cocoa and livestock production rebound strongly from the lows recorded in 2025.

“We believe the full impact of subsidies on seeds, fertilisers, and imports of key agricultural machinery will fully materialise in 2026. As cocoa production rebounds on the back of artificial pollination mechanisms, limited pod infection and reduced smuggling, amid attractive compensation to farmers, we remain fairly optimistic about a sustained sector recovery”, it added.

Industry Sector

For the industrial sector, Databank Research said despite the persistent drag from weak oil production, it forecast median growth of 4.55%, supported by the revitalisation of selected road projects.

“With a road infrastructure allocation of GH¢13.8 billion, we anticipate that the construction subsector will outperform its 10-year average growth rate of 1.4%”.

Meanwhile, it added that steady gold inflows from both large- and small-scale mining are likely to sustain industrial growth, barring a total ban on small scale operations due to ongoing environmental concerns.