Finance Minister Dr. Cassiel Ato Forson is scheduled to present the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24. According to the country’s Financial Administration Act, the finance minister is required to inform Parliament about the country’s performance in the first half of the year as well as the fiscal strategy for the upcoming six months. Additionally, the Mid-Year Budget Review aligns with Section 28 of the Public Financial Management Act, 2016 (Act 921), which mandates the Minister of Finance to update Parliament on the implementation of the national budget and provide an outlook for the remainder of the fiscal year.
Expectations
This year’s review is set to provide a comprehensive assessment of how the government has managed the economy during the first six months of 2025. It will include updates on revenue generation, government spending, debt servicing, and overall policy direction. Additionally, the review will outline any proposed amendments or adjustments to fiscal plans based on the current economic conditions.
The presentation is expected to illuminate Ghana’s macroeconomic performance, addressing key issues such as inflation trends, exchange rate stability, and progress on structural reforms. Finance Minister Ato Forson is anticipated to update the public on the revenue situation for the first six months of the year and whether we are on track to meet the end-of-year targets. The Mid-Year Budget Review will also enable the Minister to inform the public about the measures being instituted to support the ongoing economic recovery.
Data recently released y the Bank of Ghana showed that the economy is showing signs of strong recovery. The economic data for half-year showed that “Real GDP expanded by 5.3% in the first quarter, driven by strong growth in agriculture and services, while non-oil GDP rose by 6.8%. The Bank of Ghana’s Composite Index of Economic Activity increased by 4.4% year-on-year in May, and the latest PMI readings point to rising business and consumer confidence
The data also showed that “Private sector credit growth has also improved, reaching 19.9% in April 2025, up from 10.8%a year earlier, with the contraction in real credit narrowing substantially”. The document also showed that Ghana’s external position remains robust, recording “provisional trade surplus of US$5.6 billion in the first half of 2025, supported by strong gold and cocoa export receipts”.
The current account surplus has widened to US$3.4 billion over the same period. On the International Monetary Fund Programme, the Minister is expected to highlight significant progress that the government has made and his commitment to the expected conditions.
Source: Joy Business
