Economic recovery is real – Ato Forson tells parliament
The Finance Minister, Dr. Cassiel Ato Forson, on Thursday told Parliament that Ghana’s economic recovery is real, tangible, and gaining momentum, citing improved macroeconomic indicators and stronger fiscal discipline as evidence.
Presenting the 2026 Mid-Year Budget Review, Dr. Forson said the government’s reforms over the past 18 months have stabilized the economy and restored investor confidence. He pointed to declining inflation, improved revenue collection, and a stronger cedi as key proof points.
“Mr. Speaker, the recovery is not just on paper. It is in the markets, in the reduced pressure on households, and in the renewed optimism of the business community,” Dr. Forson said.
The Minister disclosed that Ghana’s per capita income has jumped to US$3,385, up from US$2,900 in 2024. He attributed the increase to higher output in agriculture, services, and a rebound in manufacturing, supported by the government’s flagship programs.
On the external sector, Dr. Forson announced that the Ghana cedi appreciated by 40.7% against the US dollar in 2025. He credited the performance to prudent monetary policy by the Bank of Ghana, increased forex inflows, and improved export earnings from gold, cocoa, and oil.
The Finance Minister also updated Parliament on the government’s “Big Push” infrastructure program, revealing that 87 projects are currently underway across roads, health, education, and energy. He said the program is designed to create jobs and crowd in private investment.
However, the presentation was met with sharp criticism from the Minority. Former Finance Minister Dr. Mohammed Amin Adam described the budget as “bones with no meat,” arguing that it failed to address the cost of living and youth unemployment.
Dr. Forson responded that the government is focused on sustainable growth, not short-term populism. He assured Ghanaians that fiscal consolidation will continue while protecting pro-poor programs.
The Mid-Year Review also announced that the Women’s Development Bank Ghana Limited has been incorporated and will begin operations in 2026 to provide targeted financing for women-owned businesses.
Economists say the next six months will be critical in determining whether the gains can be sustained ahead of the 2026 budget.
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