Ghana’s economy is showing strong signs of recovery, according to Finance Minister Dr. Cassiel Ato Forson, who delivered the 2025 Mid-Year Budget Review to Parliament earlier today.
In his address to lawmakers, Dr. Forson outlined a series of encouraging fiscal indicators, including robust GDP growth, declining inflation, and renewed investor confidence.
“We have made significant progress. The signs of recovery are obvious, evident, noticeable, visible, tangible, and they are being felt,” he declared.
According to the review, Ghana’s economy expanded by 5.3 percent in the first quarter of 2025, while non-oil GDP growth surged to 6.8 percent, surpassing earlier projections. Inflation also saw a notable decline, falling from 23.5 percent in January to 13.7 percent by May, signaling improved price stability. Meanwhile, the Ghana Cedi showed resilience, gaining stability against major foreign currencies.
Dr. Forson also addressed recent policy changes, including the introduction of a one-cedi fuel levy, which has sparked public debate. In contrast, the removal of the betting tax was met with widespread approval, particularly among youth and business groups.
On Ghana’s ongoing engagement with the International Monetary Fund (IMF), the Minister reported that the country’s $3 billion IMF-supported programme is delivering tangible results, with $2.4 billion already disbursed.
The budget review comes at a critical time, as the government seeks to consolidate gains from recent reforms and steer the economy toward sustained growth.
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