Finance Minister Dr. Cassiel Ato Forson has attributed Ghana's improving economic performance to what he described as a deliberate programme of policy reforms and disciplined economic management implemented by the Mahama administration since taking office in January 2025.
Presenting the 2026 Mid-Year Budget Review to Parliament on Thursday, July 23, 2026, Dr. Forson said the country's economic recovery was the result of sound policy decisions, competent leadership and prudent fiscal management rather than chance.
He argued that the government's reform agenda had restored confidence in the economy and laid the foundation for sustainable growth.
The Finance Minister said the turnaround had been driven by three Key Transformational Policy Reforms (KTPs), namely fiscal correction, modernising Ghana's tax regime, and complementary fiscal policies aimed at reducing inflation while ensuring exchange rate stability.
According to him, the first pillar of the reform agenda focused on restoring discipline to public finances.
The recovery of the Ghanaian economy has been anchored on three Key Transformational Policy Reforms—fiscal correction, modernising Ghana's tax regime, and complementary fiscal policy for inflation targeting and exchange rate stability. The 2025 Budget reset public expenditure to 2023 nominal levels, eliminating wasteful spending that had weakened fiscal management over many years," the minister noted.
Dr. Forson explained that the fiscal correction programme sought to bring government spending under control, strengthen accountability, and place the country's debt on a sustainable path.
Sustainable economic recovery is built on good policy choices, competent economic management, disciplined execution and courageous leadership. The evidence before us is overwhelming. Ghana's recovery has been driven by a deliberate programme of economic reforms implemented since President Mahama assumed office in January 2025," stressed the finance minister.
He noted that the government recalibrated Ghana's fiscal framework to improve efficiency, enhance transparency and ensure a fairer distribution of fiscal responsibilities across the public sector.
The Finance Minister further disclosed that the 2025 Budget reset public expenditure to 2023 nominal levels, a move he said eliminated wasteful spending practices that had undermined fiscal management over several years.
He maintained that these measures had been instrumental in stabilising the economy and creating the conditions for continued recovery.
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