Finance Minister Dr. Cassiel Ato Forson is set to present the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24.
The presentation is in accordance with the Financial Administration Act and Section 28 of the Public Financial Management Act, 2016 (Act 921), which mandates the Minister to update Parliament on the implementation of the national budget and provide an economic outlook for the rest of the year.
Expectations
This year’s review is expected to provide a comprehensive update on Ghana’s economic performance during the first half of 2025. Key highlights will include revenue generation, expenditure, debt servicing, and overall fiscal management.
The Minister is also expected to propose adjustments to the government’s fiscal strategy in response to prevailing economic conditions and outline policies aimed at sustaining the current recovery.
The review will address key macroeconomic indicators such as inflation, exchange rate stability, and progress on structural reforms.
Additionally, Dr. Ato Forson is anticipated to present updates on whether government revenues for the first six months are on target and how these figures align with the full-year goals.
Economic Performance
Recent data released by the Bank of Ghana suggests that the economy is on a solid path to recovery. Real GDP expanded by 5.3% in the first quarter of 2025, driven largely by strong performance in the agriculture and services sectors. Non-oil GDP grew by 6.8%.
The Bank’s Composite Index of Economic Activity grew by 4.4% year-on-year in May, with recent Purchasing Managers’ Index (PMI) readings indicating rising business and consumer confidence.
Private sector credit growth has also improved significantly, reaching 19.9% in April 2025, up from 10.8% a year earlier, with a noticeable narrowing of real credit contraction.
Ghana’s external sector performance remains strong, recording a provisional trade surplus of US$5.6 billion in the first half of 2025—bolstered by strong gold and cocoa exports. The current account surplus widened to US$3.4 billion over the same period.
IMF Programme
The Minister is also expected to update Parliament on Ghana’s ongoing International Monetary Fund (IMF) programme. He is likely to highlight progress made so far and reaffirm the government’s commitment to meeting the programme’s targets and conditions.
The 2025 Mid-Year Budget Review is seen as a critical opportunity for the government to communicate its economic direction and assure the public and investors of continued stability and growth.
Source: Joy Business Â
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