Government Spending Slows to 3.7% — Ato Forson

The Minister for Finance and Economic Planning, Dr. Cassiel Ato Forson, has disclosed that government expenditure slowed to 3.7 percent, reflecting efforts to ensure prudent fiscal governance.

Presenting the 2026 Fiscal Budget in Parliament yesterday, Dr. Forson noted that while government spending declined, household consumption rose, underscoring growing public confidence in the economy.

“Right Honourable Speaker, household consumption grew by 8.2 percent, reflecting stronger household confidence. Government spending also slowed to 3.7 percent, proving fiscal discipline. Mr. Speaker, exports grew by 11.5 percent, led by gold, cocoa, and non-traditional exports,” he stated.

Dr. Forson added that cocoa production rebounded from a sharp 21.4 percent contraction to record 2.8 percent growth, attributing the recovery to targeted farm support and smarter agricultural policies.

“Industry held steady despite reduced oil output. Manufacturing rose by 6.3 percent, and construction by 4.0 percent, reflecting reliable energy and revived infrastructure projects,” he said.

According to the Finance Minister, this form of growth “creates jobs, lifts incomes, and builds lasting stability.”

“Mr. Speaker, I now take you to price development,” he concluded as he transitioned to the next section of his presentation.