Ghana’s per capita income could triple by 2050 if the country pursues ambitious structural reforms, the World Bank has said in its newly released 2025 Policy Notes on Ghana.
The Bretton Woods institution estimates that sustained economic growth of about 6.5% is achievable if Ghana focuses on boosting productivity, improving infrastructure services, and strengthening human capital and workforce skills.
Currently, Ghana’s per capita income stands at approximately US$2,353, with average growth of 4% since the Covid-19 pandemic. The World Bank, however, urged the country to shift its economic model from reliance on natural resource extraction and factor accumulation to one anchored in productivity and human capital development.
On macroeconomic stability, the report emphasized the need for stronger domestic revenue mobilisation, improved expenditure management, and the resolution of State-Owned Enterprises’ liabilities. These measures, it said, are critical to creating a sustainable cycle of growth and stability.
To consolidate fiscal gains, the Bank advised adherence to fiscal rules, maintaining IMF targets, avoiding heavy foreign exchange interventions, and exercising caution in returning to the Eurobond market.
The report also stressed the importance of inclusive job creation for Ghana’s youth, linking it to fiscal resilience and debt sustainability. Priority reforms, it noted, should focus on enhancing the business environment, improving access to finance, trade facilitation, and upgrading logistics infrastructure such as roads and ports.
According to the World Bank, these bold reforms could not only reshape Ghana’s growth trajectory but also secure a more prosperous and resilient future for its citizens by mid-century.