Dr. Cassiel Ato Forson to Unveil 2025 Mid-Year Budget Review today as Ghana’s Economy Gains Momentum
Today, July 24, 2025, Finance Minister Dr. Cassiel Ato Forson will present the 2025 Mid-Year Budget Review in Parliament, outlining Ghana’s fiscal progress and policy direction under Section 28 of the Public Financial Management Act, 2016 (Act 921).
The review, a pivotal moment for President John Mahama’s administration, will clarify whether the government will maintain its expenditure limits or request a supplementary budget amid fiscal and political pressures.
Ghana’s economy shows robust recovery, with inflation falling from 23.5% in January to 13.7% by June 2025, beating the 11.9% end-year target and raising hopes for single-digit inflation. The cedi has appreciated 42.6% year-to-date, moving from GH¢15 to GH¢10.45 against the US dollar, driven by strong gold and cocoa exports, remittances, and investor confidence, leading to slight retail price adjustments. First-quarter GDP growth reached 5.3%, surpassing the 4.4% projection, while gross international reserves hit US$11.1 billion, covering 4.8 months of imports, up from US$8.98 billion in 2024.
Policy measures like the removal of the betting tax, COVID-19 levy, and E-Levy have been welcomed, but the new GH¢1 fuel levy has drawn criticism, with stakeholders awaiting potential plans for its withdrawal. The Ghana Statistical Service’s data suggests an upward growth revision, supported by initiatives like the Ghana Gold Board, Bank of Ghana’s FX auctions, and the 24-Hour Economy drive. However, challenges persist, including GH¢35 billion in energy sector debts and GH¢32 billion in cocoa sector liabilities.
As Dr. Forson speaks, investors, manufacturers, and civil society will look for signals of fiscal discipline, policy clarity, and progress on infrastructure like the $10 billion Big Push initiative. Economists stress maintaining prudence to sustain these gains, amid concerns over rising poverty projections (51.2% by 2027, per World Bank). The review will shape Ghana’s economic trajectory, balancing recovery with long-term stability.
