Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has provided an update through the mid-year budget review statement that the country has seen significant economic gains.
He announced today, Thursday, July 24, 2015, that the nation has achieved significant economic improvements as part of its 2025 Mid-Year Fiscal Policy Review.
Providing the key indicators, the minister said the country has witnessed a substantial reduction in inflation and interest rates, a strengthening of the cedi, and an improved fiscal deficit, signalling a positive trajectory for the Ghanaian economy.
He told parliamentarians that inflation has seen a dramatic decrease, falling from 23.8% at the end of December 2024 to 13.7% by the end of June 2025.
The figure represents the lowest inflation rate since December 2021 and represents six consecutive months of decline.
Interest rates on treasury bills have also experienced a drastic drop.
The 364-day T-bill rate reduced from 29.95% in December 2024 to 15.76% in June 2025, a decline of over 1400 basis points. Similarly, the 91-day T-bill rate dropped from 27.73% to 14.73%, and the 182-day T-bill rate from 28.43% to 15.34%, both representing declines of over 1300 basis points, he said.
The Ghana Cedi has demonstrated exceptional resilience and strength in recent months, he said, adding that as of the end of June 2025, the Cedi appreciated by 42.6% against the US Dollar, 30.3% against the British Pound, and 25.6% against the Euro.
The records show a significant reversal compared to the same period in 2024, when the cedi depreciated by 18.6%, 17.9%, and 16.0%, respectively.
Dr. Forson stated that the country has “almost reversed all the cedi depreciation in 2022, 2023, and 2024.”
Additionally, Ghana’s Gross International Reserves have significantly improved, with the central bank accumulating US$11.12 billion, covering 4.8 months of imports as of the end of June 2025.
The amount is an increase from US$8.98 billion, which covered 4 months of imports at the end of December 2024.
In terms of fiscal management, the overall fiscal deficit on a commitment basis was 0.7% of GDP, outperforming the target of 1.8% at the end of June 2025.
Dr. Forson attributed these positive developments to “Resetting the Economy for the Ghana We Want” and highlighted a key change in approach by the Mahama administration: the restoration of coordination between the Ministry of Finance and the Bank of Ghana.
This restoration, he noted, has ensured “a cohesive and integrated approach to economic policymaking across all relevant institutions.”
By: Rainbowradioonline.com/Ghana
