The World Bank says Ghana must complete structural reforms to sustain its economic recovery and translate growth into jobs.

It commended Ghana’s six per cent economic growth and the reduction in inflation from 23.2 per cent in 2023 to 3.2 per cent in March 2026, but cautioned that persistent vulnerabilities could undermine long-term sustainability.

The World Bank Division Director for Ghana, Liberia and Sierra Leone, Dr Robert Taliercio O’Brien, said this at the Ghana 10th Economic Update, launched in Accra under the theme: “Reset for Growth: Sustaining Macroeconomic Recovery and Unlocking Transport for Transformation.”

He said Ghana had entered 2026 at an inflection point, with the immediate challenge being to convert macroeconomic gains into employment and fiscal stability.

He said the Government’s policy decisions had contributed to the improved economic performance but cautioned that Ghana was “not out of the woods yet”, with sustained fiscal consolidation requiring stronger revenue systems.

Dr O’Brien questioned the durability of the recovery, saying policy choices made in the near term would determine whether the gains translated into lasting economic transformation or remained vulnerable to external shocks.

He said recent growth had been concentrated in gold and services, sectors that had limited capacity to absorb labour relative to Ghana’s demographic growth.

The World Bank official said 36.4 per cent of Ghanaians remained outside the formal tax system, constraining the Government’s capacity to finance public services and infrastructure.

He called for structural transformation centred on job-rich growth, particularly in agriculture, agro-processing and manufacturing, where productivity and labour absorption could be increased.

Dr O’Brien said the World Bank would continue to support Ghana’s economic transformation and job creation, but stressed that financial resources alone would not be sufficient without political commitment and institutional capacity.

The Finance Minister, Dr Cassiel Ato Baah Forson, said in a speech read on his behalf that the strong headline growth had yet to benefit a significant proportion of the population.

He said the Government was therefore focused on infrastructure investment and poverty reduction, with transport infrastructure expected to support broader economic activity and job creation.

Dr Forson said the Government did not intend to maintain capital spending cuts indefinitely, but would restore investment as fiscal conditions improved while maintaining policy discipline.

He said Ghana was seeking to consolidate its economic recovery through disciplined implementation, strategic transport infrastructure and sustained partnerships aimed at converting macroeconomic stability into jobs, food security and broader prosperity.

The Minister said the Government remained committed to working with institutions such as the World Bank to strengthen economic resilience and address infrastructure gaps.