Mid-Year Review: 'Ghana's economy moved from emergency room to the wellness center' — Finance Minister

The Minister for Finance Dr Cassiel Ato Forson has declared that Ghana's economy has moved from crisis to stability.

He credited the John Mahama-led National Democratic Congress (NDC) administration's economic reforms for the turnaround.

Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, the Minister said the government inherited an economy in severe distress but had since restored macroeconomic stability through disciplined fiscal management and policy reforms.

He cited declining inflation, a stable cedi, stronger economic growth, lower debt levels and the successful completion of Ghana's International Monetary Fund (IMF) Extended Credit Facility programme as evidence of the recovery.

"We promised to move this economy from the emergency room to the wellness center. We have kept that promise. And I give this House my firm assurance: this economy will never return to the emergency room under our watch," he said.

Dr Ato Forson said the achievements were made possible not only through government policies but also through the sacrifices of ordinary Ghanaians, including pensioners, businesses, workers and entrepreneurs who endured difficult economic conditions.

He acknowledged that even though the country's economic fundamentals had improved, many households are still facing financial pressures and had yet to fully experience the benefits of the recovery.

"We know that low inflation alone does not refill an empty pot. We know that a stronger cedi does not instantly repair a household budget stretched by years of economic mismanagement and crisis. We know that there is still a distance between recovery and relief at the kitchen table," the Minister conceded.

The Finance Minister urged Ghanaians to protect the gains achieved by supporting fiscal discipline, demanding accountability in the use of public funds and complying with tax obligations.

He added that the government's next priority would be economic transformation through a new economic agenda aimed at creating jobs, generating wealth and building a more resilient economy driven by domestic production.