{"id":2798,"date":"2026-07-23T19:13:17","date_gmt":"2026-07-23T19:13:17","guid":{"rendered":"https:\/\/parliamentnews360.com\/?p=2798"},"modified":"2026-07-23T19:13:18","modified_gmt":"2026-07-23T19:13:18","slug":"2026-mid-year-fiscal-review-ghanas-economy-is-on-stable-ground-ato-forson","status":"publish","type":"post","link":"https:\/\/parliamentnews360.com\/index.php\/2026-mid-year-fiscal-review-ghanas-economy-is-on-stable-ground-ato-forson\/","title":{"rendered":"2026 Mid-Year Fiscal Review: “Ghana\u2019s Economy is on Stable Ground” – Ato Forson"},"content":{"rendered":"\n
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By <\/em>Clement Akoloh
Accra, July 23, 2026<\/em><\/p>\n\n\n\n

Finance Minister Dr. Cassiel Ato Forson<\/em> on Thursday told Parliament that Ghana\u2019s economy has stabilized after 18 months of “sound policy” and fiscal discipline, as he presented the 2026 Mid-Year Fiscal Policy Review.<\/strong><\/p>\n\n\n\n

The Minister, appearing before the House in fulfillment of Section 28 of the Public Financial Management Act, said no supplementary budget was being requested. Instead, government will do a \u201cstrategic realignment of expenditures within the existing appropriations.\u201d<\/em><\/p>\n\n\n\n

“We Inherited an Economy on Its Knees”<\/em><\/h4>\n\n\n\n

Dr. Forson began by recalling the 2022 crisis, saying President Mahama inherited \u201can economy on its knees\u201d<\/em> in January 2025.<\/p>\n\n\n\n

\u201cThe economic crisis of twenty twenty-two was not an accident. It was the consequences of a series of wrong policy choices. Choices about reckless spending, choices about excessive and vague borrowing, choices about accountability,\u201d<\/em> he said.<\/p>\n\n\n\n

He listed the impact: inflation above 50%, collapsed investor confidence, downgraded sovereign debt, loss of access to international capital markets, and the Domestic Debt Exchange Program that \u201ceven pensioners were not spared.\u201d<\/em><\/p>\n\n\n\n

\u201cBusinesses closed or relocated, jobs were lost and many households that had escaped poverty fell back into hardship,\u201d<\/em> the Minister stated.<\/p>\n\n\n\n

2026 Revised Macroeconomic Targets<\/em><\/h4>\n\n\n\n

Dr. Forson announced revised targets for 2026:<\/p>\n\n\n\n

    \n
  • Overall GDP growth<\/em>: at least 4.8%<\/em><\/li>\n\n\n\n
  • Non-oil real GDP growth<\/em>: at least 4.9%<\/em><\/li>\n\n\n\n
  • End-year inflation<\/em>: 8% \u00b1 2%<\/em><\/li>\n\n\n\n
  • Primary surplus<\/em>: 1.5% of GDP<\/em> on commitment basis<\/li>\n\n\n\n
  • Gross international reserves<\/em>: not less than 3 months of import cover<\/em><\/li>\n<\/ul>\n\n\n\n

    He said the current reserves of $13.8 billion<\/em> representing 5.7 months of cover already exceed that target.<\/p>\n\n\n\n

    Debt and Fiscal Performance<\/em><\/h4>\n\n\n\n

    The Minister confirmed Ghana\u2019s debt stock dropped from GHS 726.8 billion in 2024 to GHS 641.1 billion in 2025<\/em>. He credited fiscal consolidation, debt restructuring, and cedi appreciation for the improvement.<\/p>\n\n\n\n

    On revenue, he acknowledged the GHS 5.1 billion shortfall in 2025<\/em> but expressed confidence that new measures will close the gap this year. \u201cThe numbers are looking good. Tomorrow you hear good news,\u201d<\/em> he told MPs, a day after similar remarks were made during the debt report debate.<\/p>\n\n\n\n

    No New Borrowing Request, But Realignment<\/em><\/h4>\n\n\n\n

    \u201cMister speaker, today I am not here to seek a supplementary estimate. The twenty-six appropriations remains unchanged,\u201d<\/em> Dr. Forson said.<\/p>\n\n\n\n

    He added that funding for a \u201cpermanent solution\u201d<\/em> to flat bond areas across the country will be provided in the 2027 budget and medium term<\/em>.<\/p>\n\n\n\n

    Bank of Ghana Coordination<\/em><\/h4>\n\n\n\n

    The Minister addressed concerns over BoG operations without naming figures. He said government is working with the Central Bank to ensure monetary policy supports growth without choking liquidity, following the Governor\u2019s decision to discontinue excessive sterilization and direct funding of the Gold Board.<\/p>\n\n\n\n

    “This is a Story of Recovery”<\/em><\/h4>\n\n\n\n

    \u201cBeyond fulfilling a statutory obligation, this statement tells a story of where Ghana stood. Where Ghana stands today and where Ghana is headed,\u201d<\/em> Dr. Forson said.<\/p>\n\n\n\n

    \u201cI stand before this house with a deep sense of pride and confidence born out of strong performance in the last one and half years in the management of the Ghanaian economy.\u201d<\/em><\/p>\n\n\n\n

    Source: parliamentnews360.com<\/p>\n","protected":false},"excerpt":{"rendered":"

    Finance Minister Dr. Cassiel Ato Forson on Thursday told Parliament that Ghana\u2019s economy has stabilized after 18 months of “sound policy” and fiscal discipline, as he presented the 2026 Mid-Year Fiscal Policy Review.<\/p>\n","protected":false},"author":2,"featured_media":2799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[51,1],"tags":[1662,1012,193],"class_list":{"0":"post-2798","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-general-news","8":"category-news","9":"tag-2026-mid-year-fiscal-policy-review","10":"tag-dr-cassiel-ato-baah-forson","11":"tag-parliament-of-ghana"},"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\t\n