Finance Minister to present 2026 Mid-Year Budget Review to Parliament today
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 and policy priorities for the remainder of the year.
The presentation, a constitutional requirement, is expected to go beyond a routine update by assessing the economy's performance during the first half of 2026 against the targets outlined in the 2026 Budget, while highlighting any policy adjustments needed to sustain growth and fiscal stability.
When the budget was presented in November 2025, the government signalled its intention to transition the economy from a phase of macroeconomic stabilisation to one driven by sustained growth, with a focus on expanding economic activity while maintaining fiscal discipline.
Six months later, key economic indicators suggest the economy has performed better than anticipated.
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. Recent data also point to improvements in fiscal consolidation, external sector performance and debt sustainability.
The 2026 Budget projected real Gross Domestic Product (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 surplus of 1.5 percent of GDP and gross international reserves capable of covering at least three months of imports.
Today's review is expected to indicate whether those targets remain on course and whether the government intends to revise any of its macroeconomic assumptions in light of prevailing domestic and global economic conditions.
The Finance Minister is also expected to provide updates on revenue mobilisation, government expenditure, debt management and financing plans for the second half of the year.
Although speculation has surrounded possible fiscal measures, indications are that the review will not introduce new taxes. Instead, the government is expected to focus on implementing existing policies to preserve macroeconomic stability.
Another major area of interest will be Ghana's engagement with the International Monetary Fund (IMF). Dr Forson is expected to brief Parliament on the successful completion of Ghana's Extended Credit Facility programme and the country's planned transition to the IMF's Policy Coordination Instrument (PCI), which is expected to support macroeconomic reforms and strengthen investor confidence after the bailout programme.
The Mid-Year Budget Review is regarded as a key policy document because it sets out the government's spending priorities, borrowing strategy and broader economic direction for the remainder of the year.
It is also expected to provide guidance on the outlook for inflation, interest rates, exchange rate stability and the overall business environment, with businesses, investors and development partners closely monitoring any adjustments to expenditure plans or financing strategies.