Ghana’s Finance Minister, Dr. Cassiel Ato Forson, is scheduled to deliver the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24, in accordance with legal requirements under the Financial Administration Act and Section 28 of the Public Financial Management Act, 2016 (Act 921).
The presentation is expected to provide Parliament and the general public with an update on the execution of the national budget for the first half of the year and outline fiscal strategies for the remainder of 2025.
It will also give an indication of whether the country is on course to meet its revenue, expenditure, and debt management targets by year-end.
This year’s review will come at a time when recent economic indicators suggest notable progress in Ghana’s macroeconomic environment. The Bank of Ghana’s latest economic reports show that Ghana’s real Gross Domestic Product (GDP) expanded by 5.3 percent in the first quarter of 2025, primarily supported by growth in the agriculture and services sectors.
Non-oil GDP performed even better, recording a 6.8 percent increase during the same period.
Complementing the GDP figures is the central bank’s Composite Index of Economic Activity, which rose by 4.4 percent year-on-year in May 2025, pointing to a steady revival in overall economic activity.
This performance is further reinforced by positive business sentiment captured in recent Purchasing Managers’ Index (PMI) data.
Private sector credit also showed a marked improvement, reaching 19.9 percent growth in April 2025, compared to 10.8 percent during the same period in 2024.
The contraction in real credit is said to have narrowed significantly, suggesting renewed confidence in the banking system and improved access to finance for businesses.
Ghana’s external sector remains solid, with the country posting a provisional trade surplus of US$5.6 billion in the first six months of 2025. This was driven largely by strong export revenues from gold and cocoa.
The current account balance also recorded a surplus of US$3.4 billion during the same period, indicating a healthier external position.
In Thursday’s presentation, Dr. Ato Forson is also expected to comment on Ghana’s performance under the ongoing International Monetary Fund (IMF) programme.
He is likely to highlight key milestones achieved and reiterate the government’s commitment to maintaining fiscal discipline and pushing through structural reforms.
The review will further assess current inflation trends, the stability of the local currency, and any adjustments needed in response to emerging global or domestic economic pressures.
The Finance Minister is also expected to address the outlook for employment, public sector wage management, and government spending priorities for the rest of the year.
As required by law, the Mid-Year Budget Review provides the platform for the government to introduce any proposed changes to the national budget, based on prevailing economic conditions and policy realignments. It also enables Parliament to hold the Executive accountable for its stewardship of the economy.
