Ghana’s Finance Minister, Dr Cassiel Ato Forson, is set to present the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24, as required by law.
He is expected to provide a key update on the economy’s performance in the first half of the year and the fiscal outlook for the remainder of 2025.
In line with the Financial Administration Act and Section 28 of the Public Financial Management Act, 2016 (Act 921), the Mid-Year Budget Review serves as a statutory obligation for the Finance Minister to update Parliament on the execution of the national budget and propose any necessary revisions in response to current economic conditions.
This year’s review is expected to provide a comprehensive analysis of Ghana’s fiscal health, covering government revenue, expenditure, debt servicing, and overall economic direction. Dr Ato Forson is also anticipated to outline whether the country is on course to meet its year-end revenue and fiscal targets.
Recent data released by the Bank of Ghana points to a positive economic trajectory. Ghana’s real GDP grew by 5.3% in the first quarter of 2025, led by strong performance in the agriculture and services sectors. Non-oil GDP grew by 6.8% over the same period. The Bank’s Composite Index of Economic Activity also rose by 4.4% year-on-year in May, indicating an improving business climate.
Private sector credit growth improved significantly, reaching 19.9% in April 2025, compared to 10.8% a year earlier. The narrowing gap in real credit contraction suggests growing confidence in the banking sector and increased access to finance.
Ghana’s external position remains strong, with the country recording a provisional trade surplus of US$5.6 billion in the first half of the year, buoyed by robust gold and cocoa export earnings. The current account surplus also widened to US$3.4 billion during the same period.
The Finance Minister is expected to use the opportunity to provide updates on the government’s performance under the ongoing International Monetary Fund (IMF) programme, reaffirming Ghana’s commitment to structural reforms and meeting programme benchmarks.
As the country continues to consolidate its economic recovery, the 2025 Mid-Year Budget Review will be closely watched for policy shifts, revised fiscal targets, and government strategies aimed at sustaining growth while maintaining macroeconomic stability.
By Coffie Mawuedem Noel
