Minister for Finance, Dr. Cassiel Ato Forson, is set to present the 2025 Mid-Year Budget Review to Parliament today
Ghainas are expectant of this readig as widespread attention is focused on whether the government will stick to its initial spending plans or seek additional funding in response to growing fiscal and political demands.
The review comes at a time of significant improvement in Ghana’s macroeconomic landscape, bolstering expectations for a budget strategy that emphasizes fiscal discipline, investor confidence, and long-term price stability.
Inflation, which opened the year at 23.5 percent, declined sharply to 13.7 percent by the end of June. Analysts say this disinflationary trend could see Ghana achieving single-digit inflation before year-end, ahead of the official 11.9 percent target.
Currency stability has also seen a dramatic turnaround. The cedi, which began the year trading at roughly GH¢15 to the US dollar, has appreciated to about GH¢10.45. This recovery has led to modest price reductions in some retail sectors, although manufacturers remain cautious, operating within a 60-day pricing window agreed with key business associations.
On the fiscal front, the government’s removal of the controversial betting tax has been met with public approval. However, the newly introduced GH¢1 fuel levy has sparked criticism, with stakeholders keen to see whether today’s review will outline a clear timeline or sunset clause for the charge.
Ghana’s economic growth also appears to be outperforming expectations. While the government had initially forecast GDP growth of 4.4 percent for 2025, new data from the Ghana Statistical Service reveals a stronger-than-expected 5.3 percent growth in the first quarter alone, potentially prompting a revision of the government’s growth outlook.
As Parliament prepares to receive the Finance Minister’s update, both the public and investors are looking for signals on how the government intends to manage the balance between fiscal prudence and political priorities in the months ahead.
