“Ghana’s economic recovery is firmly on track. The Cedi has stabilised, the policy rate has dropped to 14%, and confidence in our economy is being rebuilt.” — Dr Cassiel Ato Forson

Minister of Finance, Dr Cassiel Ato Forson, has highlighted significant improvements in Ghana’s economy, saying the country has turned the corner through prudent economic management.

Presenting the 2026 Mid-Year Budget Statement in Parliament on Thursday, July 23, Dr Forson said the Ghana Cedi has stabilised, while the reduction of the policy rate to 14% is creating an enabling environment for businesses and investors to access cheaper credit to expand their operations.

He said the implementation of the 2026 Budget remains firmly on track, adding that Ghana has achieved its targets for the first half of the year and is on course to meet the end-year fiscal deficit target of 1.5% of GDP.

According to Dr Forson, confidence in the economy has been restored, with major macroeconomic indicators showing significant improvement due to what he described as sound economic discipline.

He stressed that debt restructuring alone does not create fiscal discipline but provides fiscal space for government to implement policies.

Dr Forson also blamed the previous economic crisis on excessive borrowing, reckless spending, and weak accountability, saying the Mahama administration inherited an economy that was “on its knees.”

He maintained that Ghana’s current progress is not by chance but the result of what he called superior economic management, and warned that the country must avoid returning to a period of excessive cedi depreciation.

Story by Efua Nessa