According to him, several parts of the economy have performed better than expected, showing that growth momentum is now more widely distributed rather than driven by only a few industries.
Speaking at the opening of the 127th Monetary Policy Committee meeting on 24th November, 2025, Dr. Asiama said economic activity has strengthened significantly this quarter, with growth becoming broader and more stable across multiple sectors.
“What stands out this quarter is the broad momentum in economic activity. Growth has been stronger and more diversified than anticipated,” he said.
The first half of the year recorded 6.3 percent GDP growth, propelled by strong performance in services and agriculture, while non-oil GDP rose to 7.8 percent. High-frequency indicators reinforce this trend, with the Composite Index of Economic Activity up about 9 percent, alongside continued optimism among businesses and consumers. These gains show that the negative output gap is narrowing and the economy is steadily shifting from recovery to expansion,” he added.
Dr. Johnson Asiama stressed that the progress is the result of deliberate policy actions. He pointed to sustained fiscal discipline, a cautious but firm monetary policy approach, and structural reforms, especially in FX operations and rebuilding external buffers.
He further noted that the 2026 Budget strengthens this discipline and places growth and job creation at the centre of Ghana’s next phase of economic transformation.
This comes on the back of the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has beguns its 127th meeting today, November 24, 2025, with discussions expected to focus on key macroeconomic developments shaping the country’s recovery trajectory.
It also comes at a time when inflation has also continued its downward path falling to 8 percent in October, driven by sustained tight monetary policy, fiscal consolidation, and improved food supply conditions.
