Finance Minister Dr. Cassiel Ato Forson is set to present the 2026 Mid-Year Budget Review to Parliament today, Thursday, July 23, outlining the government’s fiscal performance in the first half of the year and its economic priorities for the months ahead.
The review, a constitutional requirement, is expected to provide an assessment of how the economy has performed against the targets outlined in the 2026 Budget, while indicating whether any policy adjustments are needed to maintain economic growth and fiscal stability.
When presenting the 2026 Budget in November 2025, the government projected a transition from a period of macroeconomic stabilisation to sustained economic expansion, backed by stronger growth and prudent fiscal management.
Six months into the year, key economic indicators suggest that the economy has performed better than initially expected.
Inflation has declined significantly to 5.3 percent, falling below the government’s medium-term target range of 8 percent, plus or minus two percentage points. There have also been improvements in fiscal consolidation, external sector performance and debt sustainability.
The original budget set ambitious targets, including real GDP growth of at least 4.8 percent, non-oil GDP growth of 4.9 percent, an overall fiscal deficit of 2 percent of GDP, a primary fiscal surplus of 1.5 percent of GDP and international reserves capable of covering at least three months of imports.
Today’s presentation is expected to indicate whether these targets remain on course and whether the government will revise any of its macroeconomic assumptions in light of current domestic and global economic developments.
Beyond the economic indicators, Dr. Ato Forson is also expected to update Parliament on revenue mobilisation, public expenditure, debt management and financing plans for the second half of the year.
There are, however, strong indications that the Mid-Year Budget Review will not introduce new taxes, with the government expected to focus on fully implementing existing fiscal measures to preserve macroeconomic stability.
Another major highlight of the presentation is likely to be Ghana’s engagement with the International Monetary Fund (IMF). The Finance Minister is expected to provide an update on the successful completion of Ghana’s Extended Credit Facility (ECF) programme and the country’s planned transition to the IMF’s Policy Coordination Instrument (PCI), which is expected to support policy reforms and strengthen investor confidence after the bailout programme concludes.
The Mid-Year Budget Review is closely watched because it provides insight into the government’s spending priorities, borrowing plans and overall economic direction for the rest of the year. It also offers businesses, investors and development partners a clearer picture of the outlook for inflation, interest rates, exchange rate stability and the broader business environment.
