By: Kwame Bediako
Minister for Finance, Dr. Cassiel Ato Forson, on Thursday, July 24, 2025, delivered the 2025 Mid-Year Budget Review in Parliament, highlighting key economic measures and progress achieved under the current administration. Mr. Ato Forson emphasized that the government has successfully restored “clarity, certainty, stability, and purpose” to Ghana’s economic policy direction after a challenging period.
He stated, “In less than 200 days, we have brought back clarity, certainty, stability, and purpose to our economic policy direction. We have made significant progress. The signs of recovery are obvious, evident, noticeable, visible, tangible, and they are being felt.”
The Finance Minister recounted that the administration has tightened fiscal discipline without compromising social spending, a key pillar in the new economic model. He noted that the International Monetary Fund (IMF) Executive Board endorsed this approach, praising the government’s bold corrective actions following previous policy slippages and delays in reforms.
“The IMF further noted that these corrective actions, combined with continuous structural reforms and an improved external sector, are expected to result in economic stability, resilience, and inclusive growth,” he explained.
Among notable initiatives, Mr Ato Forson spoke about the establishment of the Ghana Gold Board through Act 1140, a strategic move to accumulate foreign exchange and support the stability of the Ghanaian cedi. He stressed the restored coordination between the Ministry of Finance and the Bank of Ghana as critical for cohesive economic policymaking.
“We streamlined and increased investment in education, health, agriculture, infrastructure, as well as employment,” he added.
The Minister also referred to the positive macroeconomic indicators seen so far in 2025. Inflation, which stood at 18.40 percent in may, dropped to 13.7 percent by the end of June, with expectations of single-digit inflation by year-end.
The cedi, once highly volatile, stabilized impressively, strengthening from around GH¢17 per US dollar in January to GH¢10.45 currently, reflecting enhanced currency stability that is benefiting consumers and businesses.
He stressed the government’s resolve to maintain the upward trajectory. “You may recall that clear policy measures were outlined in the 2025 budget presented to this house in March this year. We remain focused on continuing these fiscal measures and reforms to sustain economic stability and growth,” he affirmed.
