Ghana’s Minister of Finance, Dr Cassiel Ato Forson, has said Ghana recorded a primary fiscal surplus of 11.1 per cent of GDP, exceeding the government’s 2025 mid-year target of 0.4 per cent,
Presenting the 2025 Mid-Year Budget Review in Parliament on Thursday, July 24, 2025, Dr Forson said that the figure showed that the Ghanaian economy was recovering from “the most fiscally reckless period in Ghana’s democratic history”.
He stated that the overall fiscal deficit stood at 0.7 per cent of GDP, compared with a target of 1.8 per cent for the same period.
According to him, these results are not accidental and that there are “the outcome of hard decisions, structural reforms, and discipline at every level of fiscal anagement”.
The minister disclosed that the IMF has expressed confidence in the policy measures introduced by the Mahama administration and attributed the progress to bold and targeted reforms.
While assuring the lawmakers that the fiscal measures will not be implemented at the expense of public services, the minister said: “We are tightening the budget but not cutting back on education, health, agriculture or infrastructure. The poor and vulnerable will not be sacrificed in the name of fiscal prudence.”
According to local media reports, Ghana is expected to undergo three more reviews under the IMF programme and that the outcome of these assessments will determine whether the current fiscal gains can be sustained.
GIK/APA