Finance Minister reflects on progress ahead of 2025 Mid-Year Budget presentation today
The Minister of Finance, Dr Cassiel Ato Forson, will today, Thursday, July 24, present the 2025 Mid-Year Budget during proceedings in Parliament.
Ahead of the presentation, Dr Ato Forson took to his X account to reflect on the government's economic journey so far.
He recalled the commitments he made during his vetting—to stabilise the exchange rate, reduce inflation, and create jobs—emphasising that these were actionable promises, not mere rhetoric.
“At my vetting, I made a firm commitment to the Ghanaian people: to stabilise the exchange rate, reduce inflation, and create jobs. These were not mere words—they were promises backed by action. Soon after, I stepped out of the meeting rooms and into the markets—to hear firsthand how the cedi’s depreciation was affecting livelihoods. I listened, I took note, and I acted. In the 2025 Budget, I laid out a clear roadmap—concrete measures to restore economic stability and rebuild confidence.”
As the nation awaits the Mid-Year Fiscal Policy Review, the Finance Minister posed a question to the public:
“Now, as we approach the Mid-Year Fiscal Policy Review, I return to you, the people, to reflect on the journey so far—and to ask: are we making the needed impact so far?”
The review comes at a time when Ghana’s macroeconomic indicators are showing notable improvement, raising expectations for continued fiscal consolidation, renewed investor confidence, and sustained price stability.
Inflation, which stood at 23.5 per cent at the start of the year, has declined significantly to 13.7 per cent as of end-June 2025. This downward trend has sparked optimism that the country may achieve single-digit inflation ahead of the government’s end-year target of 11.9 per cent.
Another major concern at the start of President Mahama’s second term was the cedi’s volatility. In January, the local currency traded around GH¢15 to the US dollar on the interbank market. It has since appreciated to approximately GH¢10.45, marking a strong recovery.
This has begun to reflect in marginal price adjustments in some retail outlets, while manufacturers continue to monitor the cedi’s stability within a 60-day window agreed with key business associations.
On the growth front, the government initially projected a 4.4 per cent GDP growth rate for 2025. However, data from the Ghana Statistical Service shows a stronger-than-expected 5.3 per cent growth in the first quarter alone—potentially paving the way for an upward revision in today’s fiscal outlook.
