Finance Minister Dr. Cassiel Ato Forson says the government will not seek supplementary funding in the 2025 Mid-Year Budget Review, underscoring renewed confidence in Ghana’s economic rebound and its ability to meet key fiscal targets without additional allocations.
Presenting the review to Parliament, Dr. Forson stated firmly: “Mr. Speaker, I am not asking for additional money from the Appropriations Act. We maintain the following macroeconomic targets for 2025.”
The government’s reaffirmed 2025 targets include; overall GDP growth of at least 4.0%, non-oil GDP growth of at least 4.8%, end-year inflation at 11.9%, primary balance surplus of 1.5% of GDP (commitment basis), and gross international reserves covering a minimum of three months of imports
Dr. Forson cited improved macroeconomic indicators and steady progress in fiscal management as justification for maintaining the current expenditure ceiling.
“Economic developments in the first half of the year do not warrant any revision to the Appropriations Act or the fiscal framework,” he noted.
While expressing cautious optimism, the Finance Minister acknowledged that ongoing global and domestic challenges require continued vigilance. “Although we have made significant progress, we are cautiously optimistic,” he said.
Dr. Forson also announced that revenue and expenditure estimates are being updated to reflect new inflows from the Energy Sector Levies (Amendment) Act, 2025 (Act 1141), which was recently passed by Parliament. The additional revenue will support energy sector reforms and help stabilize the fiscal outlook without altering overall budget projections.
The mid-year budget presentation comes at a critical moment, as the Mahama administration, now in its seventh month faces increasing public scrutiny over inflation, exchange rate volatility, and the need for greater efficiency in public spending.
Dr. Forson reaffirmed the administration’s focus on consolidating gains made under its economic recovery plan.
“We remain committed to prudent fiscal management and long-term economic resilience. Our goal is to restore macroeconomic stability while creating space for inclusive, sustainable growth,” he added.
