Transforming Ghana: country results brief 2012–2021
Ghana has enjoyed two decades of steady growth, but the impact of the Covid-19 pandemic and the Ukraine-Russia crisis could dent economic prospects, according to an African Development Bank report. The report, titled ‘Transforming Ghana,’ reviews the country’s development over the past ten years (2012–2021) and evaluates the African Development Bank’s contribution through its High 5 strategic priorities. Ghana’s GDP per capita grew 2.3% per year on average between 2012 and 2021, the report notes, citing the country’s stable political environment. Real GDP growth averaged 5.2% during the same time, causing the country to rank among Africa’s fastest-growing economies for several years. Having achieved lower-middle income status in 2010, the population living below the poverty line fell from 24.2% in 2012 to 10.7% in 2021.