The government has attributed recent improvements in Ghana’s macroeconomic conditions to sound economic policies, pointing to declining inflation, improved investor confidence and a more stable monetary environment.Finance Minister Dr. Cassiel Ato Forson said the economy, which was hit by severe instability in 2022, had entered a recovery phase after one-and-a-half years of policy interventions aimed at restoring confidence and strengthening economic fundamentals.
Presenting the 2026 Mid-Year Fiscal Policy Review in Parliament, Dr. Ato Forson said the government’s confidence in the economy was based on “sound policy, evidence, measurable performance and credible data.”He said the administration inherited an economy characterised by high inflation, currency depreciation, rising interest rates, depleted foreign reserves and loss of access to international capital markets.
According to him, inflation had previously exceeded 50 per cent, while the sharp depreciation of the cedi weakened household purchasing power, eroded savings and increased the cost of doing business.
However, Dr. Ato Forson said the government’s fiscal consolidation measures and broader economic reforms had contributed to improved macroeconomic stability.
He said the government was maintaining its 2026 macroeconomic targets, including reducing inflation to 8 per cent, with a margin of plus or minus two percentage points, achieving real GDP growth of at least 4.8 per cent, and building international reserves sufficient to cover not less than three months of imports.
The Finance Minister’s comments come against the backdrop of recent monetary policy measures by the Bank of Ghana aimed at containing inflation and supporting economic recovery.
He said restoring stability in inflation, interest rates and the exchange rate environment remained central to reviving private sector confidence and improving access to credit.Dr. Ato Forson also emphasised that the 2026 budget framework remained unchanged, noting that government was only undertaking a strategic realignment of expenditures within existing appropriations.
He said the focus of the administration was to maintain fiscal discipline while supporting economic growth.
“The story we are telling today is where Ghana stood, where Ghana stands today and where Ghana is heading,” he told Parliament.The Finance Minister said the government’s medium-term objective was to consolidate the gains made and ensure that economic recovery translated into improved living conditions for Ghanaians.
