Finance Minister Dr. Cassiel Ato Forson says Ghana’s economy has recorded significant improvements across all major macroeconomic indicators, attributing the turnaround to what he described as prudent fiscal management and disciplined economic policies under the government of President John Dramani Mahama.
Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, Dr. Forson said the country’s economic recovery was not a matter of luck but the result of deliberate policy decisions and sound economic management.
“Every major macroeconomic indicator has improved significantly,” the Finance Minister told Parliament.
According to him, the current administration inherited an economy that was in a difficult state, marked by excessive borrowing, reckless spending and weak fiscal discipline.
“President Mahama took over an economy with reckless spending, excessive borrowing, and lack of accountability. President Mahama took over an economy that was on its knees,” he stated.
Dr. Forson also recalled the sharp depreciation of the Ghana cedi before the current administration assumed office, describing it as unprecedented.
“The cedi depreciated as never seen before,” he said.
The Finance Minister stressed that Ghana’s improving economic outlook is the product of disciplined governance rather than debt restructuring alone.
“The progress Ghana is recording today did not happen by chance. It is superior economic management.”
He explained that while the country’s debt restructuring programme created room for economic recovery, it did not automatically guarantee fiscal discipline.
“Debt restructuring does not create fiscal discipline; it only creates fiscal space.”
Dr. Forson further cautioned against a return to policies that contributed to the country’s economic crisis, insisting that Ghana must avoid another period of excessive cedi depreciation.
“The 2022 economic crisis was not merely an accident but the result of poor policy choices, reckless spending and excessive borrowing,” he said.
He maintained that sustaining fiscal discipline and responsible economic management remains critical to preserving the gains made so far and ensuring long-term economic stability.
