Ghana has achieved a major fiscal milestone as Treasury bill rates fell sharply in 2025, saving the government GHS 8.8 billion in interest payments between January and September, Finance Minister Ato Forson announced during the presentation of the 2026 budget.
Minister Forson said the drop in rates reflects the government’s consistent fiscal discipline, improved revenue mobilization, and strengthened investor confidence. The 91-day Treasury bill rate fell from 28.9% in 2024 to 10.7% in 2025, the lowest level in 14 years.
“This is a direct result of our commitment to fiscal responsibility and sound economic management,” Minister Forson said. “The government has tightened non-priority spending while protecting investment in key sectors, creating space for social and capital investment.”
He highlighted that public debt has also declined to its lowest in a decade, with Ghana’s debt risk reclassified from high to moderate. This fiscal consolidation, he said, has restored confidence in the economy and eased pressures on both external debt and domestic finances.
The Minister emphasized that Ghana’s social protection allocations were increased to 0.9% of GDP in 2025, up from 0.6% in 2024, demonstrating that economic stability is translating into social progress.
