Finance Minister Dr. Cassiel Ato Forson has highlighted what he describes as significant macroeconomic gains achieved by the government, saying the country has surpassed key economic targets set for the first half of 2026.
Presenting the 2026 Mid-Year Budget Review to Parliament on Thursday, July 23, Ato Forson said the performance of the economy during the first quarter of the year demonstrates the impact of ongoing policy measures and reforms implemented by the government.
The Finance Minister said Ghana’s economic indicators have shown strong improvement across several key areas, including economic growth, inflation reduction, fiscal management and the strengthening of the country’s foreign exchange reserves.
He stated that the country’s overall Gross Domestic Product (GDP) growth exceeded expectations in the first quarter of 2026, recording a performance significantly above the government’s full-year projection.
He explained that the growth momentum was not only driven by the oil sector but was also reflected in non-oil sectors of the economy, indicating broader-based economic activity.
He said the government’s fiscal consolidation measures, together with improved economic management, have helped create conditions for stronger growth and improved investor confidence.
“Ghana has not merely met its first half-year targets, it has exceeded them. Overall GDP growth was 6.4 percent in the first quarter of 2026, well ahead of the 4.8 percent full-year target. Non-oil GDP growth was 6.3 percent in the first quarter of 2026, well ahead of the 4.9 percent full-year target.
“Inflation has more than halved, falling from 13.7 percent in June 2025 to 5.3 percent by the end of June 2026. The Primary Balance recorded a surplus of 0.9 percent of GDP on commitment basis, firmly on track to achieve our end-of-year target of 1.5 percent of GDP. Gross International Reserves were five months of import cover as at June 2026, exceeding the target of at least three months’ cover.”
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