Ghana reports 950,000 lifted from poverty

Ghana’s 2026 Mid-Year Fiscal Policy Review highlights a broad economic and social upturn, led by a sharp drop in inflation and stronger job prospects. Finance Minister Cassiel Ato Forson reports that inflation fell from 23.8% in December 2024 to 5.3% by June 2026, with unemployment easing from 13.7% in 2024 to 12.8% in 2025. He also notes that multidimensional poverty declined from 24.9% in Q3 2024 to 21.9% in Q3 2025, meaning about 950,000 Ghanaians moved out of poverty in a single year. The minister attributes these gains to prudent economic management, and points to robust GDP growth of 6.0% in 2025 and 6.4% in the first half of 2026, along with debt reduction ahead of schedule, surpassing the 45% of GDP target. He argues these improvements reflect better living conditions and renewed optimism for families across the country. The government also indicates that non-oil GDP growth reached its highest level in 14 years and that the economy surpassed US$100 billion in value.