News:
July 23, 2026
Finance Minister Dr. Cassiel Ato Forson has confirmed that the government will not request supplementary budget estimates for the remainder of the year.
Delivering the Mid-Year Budget Review to Parliament on Thursday, July 23, Dr. Forson announced that the 2026 appropriations for specific purposes remain unchanged.
“Mr. Speaker, today I am not here to seek supplementary estimates. The 2026 appropriations remain unchanged,” he stated.
However, the Minister indicated that the government will undertake a strategic realignment of expenditures within the existing appropriations to ensure efficiency.
Macroeconomic Targets Achieved
Dr. Forson reported that the government has met several key macroeconomic targets for the first quarter of 2026, including:
· Overall GDP growth of at least 4.8%
· Non-oil real GDP growth of at least 4.9%
· End-year inflation of 8% (±2%)
· Primary surplus of 1.5% of GDP on a commitment basis
· Gross international reserves sufficient to cover no less than 3 months of imports
“Superior Economic Management” Driving Recovery
The Finance Minister attributed Ghana’s economic progress to deliberate reforms introduced by the Mahama administration.
“President Mahama took over an economy with reckless spending, excessive borrowing, and lack of accountability. President Mahama took over an economy that was on its knees.”
Dr. Forson highlighted the cedi’s unprecedented depreciation prior to the administration’s intervention, adding:
“The progress Ghana is recording today did not happen by chance. It is superior economic management.”
Ghanamps.com