Accra, July 23, GNA – Dr Cassiel Ato Forson, the Minister for Finance, says Ghana’s economic recovery has been anchored on fiscal correction, modernisation of tax regime, inflation targeting and exchange rate stability.
He made the observation during presentation of the 2026 Mid-Year Budget Review to Parliament on Thursday.
Highlights of the Mid-Year Budget Review are as follows:
2026 Macroeconomic targets
| Economic Indicator | 2026 Target |
|---|---|
| Real GDP growth | ≥4.8% |
| End-year inflation | ±8.0% |
| Primary surplus | 1.5% of GDP |
| Gross international reserves | ≥3 months import cover |
Debt-to-GDP ratio fell from 61.8 per cent at the end of 2024 to 44.7 per cent at the end of 2025 and reached 45.0 percent by the end of June 2026.
Since January 2025, Government has paid a total of $2.1 billion in principal and interest to Eurobond holders without placing undue pressure on Ghana’s foreign exchange reserve.
Interest costs stood at 1.3 per cent of GDP as at the end of June 2026 against the half-year target of 1.8 percent, reflecting lower interest rates and improved debt management
Primary expenditure, which excludes interest payments, was 6.6 percent of GDP by June 2026, compared to the half-year target of 8.1 percent of GDP.
Ghana is on course to accumulating GHS30 billion in the Sinking Fund by the end of the year 2026. This will be enough to repay the 30 billion Domestic Debt Exchange Programme debts that will fall due in February 2027.
Big Push
87 projects have commenced under the Big Push infrastructure programme.
By end of June 2026, 13 projects under Big Push had reached at least 50 per cent completion.
Government has deposited US$1.7 billion into a dedicated account at the central bank for the Accra- Kumasi expressway.
GNA
Edited by George Agboklu