GDP and Growth

• Provisional 2025 Q1 GDP growth: 5.3 % (Q1 2024: 4.9 %)
• Composite Index of Economic Activity (CIEA): annual growth 12.0 % in May 2025 (13.8 % in May 2024)

Inflation

• Consumer‑price index: 257.3 in Jun 2025; YoY inflation 13.7 % (22.8 % Jun 2024)
• Food CPI: 291.4; YoY 16.3 % (24.0 % Jun 2024)
• Non‑food CPI: 231.6; YoY 11.4 % (21.6 % Jun 2024)

Interest Rates

• Monetary Policy Rate: 28.00 % (unchanged since Mar 2025; 29.00 % Jun 2024)
  Interbank weighted average: 27.02 % (Jun 2025) vs 28.83 % (Jun 2024)
• Ghana Reference Rate: 23.69 % (Jun 2025) vs 29.44 % (Jun 2024)
• Average lending rate: 27.00 % (Jun 2025) vs 31.10 % (Jun 2024)

Post‑DDEP bond yields (secondary‑market):

• 4‑year: 19.36 % (Jun 2025) vs 22.06 % (Jun 2024)
• 15‑year: 20.74 % (Jun 2025) vs 26.42 % (Jun 2024)

Foreign‑Exchange Rates

• USD/GHS: 10.3100 (Jun 2025) — 42.6 % appreciation YTD
• GBP/GHS: 14.1252 (Jun 2025) — 30.3 % appreciation YTD
• EUR/GHS: 12.1138 (Jun 2025) — 25.6 % appreciation YTD
• REER index: 92.7 (Jun 2025) vs 137.3 (Jun 2024)

External Sector Developments

• Total Exports: US$ 13.80 billion as at June 2025 (US$ 8.87 billion in June 2024)
  • Gold Exports: US$ 8.39 billion — 61 % of total exports (Jun‑25) – US$ 4.66 billion in Jun‑24
  • Cocoa Exports: US$ 2.17 billion — 16 % of exports – US$ 0.76 billion in Jun‑24
  • Oil Exports: US$ 1.36 billion — 10 % of exports – US$ 1.98 billion in Jun‑24
• Total Imports: US$ 8.23 billion as at Jun‑25 (US$ 7.50 billion Jun‑24)
  • Oil Imports: US$ 2.59 billion — 31 % of imports – US$ 2.43 billion Jun‑24
• Trade Surplus: US$ 5.57 billion (6.4 % of GDP) – US$ 1.37 billion (1.6 % of GDP) in Jun‑24
• Current Account Surplus: US$ 3.44 billion (3.9 % of GDP) – US$ 0.28 billion (0.3 % of GDP) in Jun‑24

Fiscal Position & Debt

• Overall Budget Deficit (cash): 1.1 % of GDP in Jun 2025 (3.2 % | Jun 2024)
• Primary Balance (cash): +0.7 % of GDP surplus in Jun 2025 (‑1.6 % | Jun 2024)
• External Debt: GH¢ 300.3 bn (21.4 % GDP) in Jun 2025 (GH¢ 454.9 bn; 38.7 % | Jun 2024)
• Domestic Debt: GH¢ 312.7 bn (22.3 % GDP) in Jun 2025 (GH¢ 290.0 bn; 24.7 % | Jun 2024)
• Total Public Debt: GH¢ 613.0 bn (43.8 % GDP) in Jun 2025 (GH¢ 744.8 bn; 63.3 % | Jun 2024)

Banking & Financial Sector

• Non‑Performing Loans ratio: 23.1 % in Jun 2025 (24.2 % | Jun 2024)
• Return on Assets (before tax): 5.6 % in Jun 2025 (5.4 % | Jun 2024)
• Active Mobile‑Money Accounts: 24.5 million in Jun 2025 (24.4 m | Jun 2024)

International Reserves

• Gross International Reserves (GIR): US$ 11.12 bn (4.8 months’ import cover) in Jun 2025 (US$ 6.87 bn; 3.1 months | Jun 2024)
• Net International Reserves (NIR): US$ 8.88 bn in Jun 2025 (US$ 4.50 bn | Jun 2024)
• Petroleum & Heritage Funds: US$ 1.42 bn in Jun 2025 (US$ 1.30 bn | Jun 2024)
• Gold Holdings: US$ 2.75 bn / 33.0 t in Jun 2025 (US$ 1.50 bn / 23.4 t | Jun 2024)

Nominal GDP

• Full‑year estimate: GH¢ 1.400 trn for 2025 (GH¢ 1.176 trn | 2024)

Confidence Surveys

• Consumer Confidence Index: 119.2 in Jun 2025 (81.2 | Jun 2024)
• Business Confidence Index: 105.5 in Jun 2025 (88.8 | Jun 2024)

Capital‑Market Performance

• GSE Composite Index: 6,248.5 in Jun 2025 (3,829.6 | Jun 2024), 27.8 % YTD vs 22.3 % YTD a year ago
• GSE Financial Stock Index: 3,376.0 in Jun 2025 (2,115.0 | Jun 2024), 41.8 % YTD vs 11.2 % YTD a year ago