Finance Minister Dr. Cassiel Ato Forson says the government will not seek additional funds in the 2025 Mid-Year Budget Review, reaffirming confidence in Ghana’s economic recovery and maintaining all key macroeconomic targets.
Presenting the review to Parliament on Thursday, July 24, Dr. Ato Forson noted that economic developments in the first half of the year do not justify changes to the Appropriations Act or core fiscal projections.
“Mr. Speaker, I am not asking for additional money from the Appropriations Act. We maintain the following macroeconomic targets for 2025,” he declared.
The reaffirmed targets are:
Overall GDP growth of at least 4.0%
Non-oil GDP growth of at least 4.8%
End-year inflation rate of 11.9%
Primary balance surplus of 1.5% of GDP on a commitment basis
Gross International Reserves covering no less than three months of imports
Dr. Forson highlighted growing economic stability and improving indicators as justification for holding the line on spending, while cautioning that challenges remain.
“Although we have made significant progress, we are cautiously optimistic,” he said.
He also disclosed that revenue and expenditure projections are being adjusted to reflect additional inflows from the Energy Sector Levies Amendment Act, 2025 (Act 1141), recently passed by Parliament.
The mid-year review comes at a time of high public interest in the government’s fiscal strategy, with calls for more efficient spending and measures to further stabilise inflation and the cedi. The Mahama administration, now seven months in office, says it remains focused on consolidating gains and restoring long-term economic resilience.
Comments