Minister for Finance, Dr Cassiel Ato Forson, will today present the 2025 Mid-Year Budget Review to Parliament, with expectations high on whether government will stick to its existing expenditure limits or request a supplementary budget in light of mounting fiscal and political pressures.
The review comes at a time when Ghana’s macroeconomic indicators are showing significant improvement, fuelling hopes for policies that promote fiscal consolidation, investor confidence, and long-term price stability.
One of the most striking developments has been the sharp drop in inflation—from 23.5 percent in January to 13.7 percent by the end of June 2025.
This downward trend has encouraged optimism among analysts, with many predicting that Ghana could hit single-digit inflation before the end of the year, well ahead of the official 11.9 percent target.
Similarly, the Ghanaian cedi has seen a dramatic rebound, strengthening from about GH¢15 to the dollar in January to around GH¢10.45 currently.
The appreciation has resulted in slight price reductions in retail markets, though manufacturers continue to monitor its performance within a 60-day pricing agreement.
On the fiscal front, the removal of the betting tax has been welcomed by the public, though the introduction of a GH¢1 fuel levy has sparked backlash.
Citizens and businesses alike are closely watching to see if today’s review will spell out a time frame or sunset clause for the unpopular levy.
Encouragingly, Ghana’s economy appears to be on a solid path, with the Ghana Statistical Service reporting a 5.3 percent GDP growth in the first quarter—exceeding the government’s original 4.4 percent projection and potentially triggering a revision of the country’s growth outlook.
