Ghana’s ongoing economic recovery is anchored on three major policy interventions, with strict fiscal correction serving as the cornerstone of the rebound, Finance Minister Dr Cassiel Ato Forson has disclosed.
Presenting the Mid-Year Fiscal Policy Review of the 2026 Budget to Parliament on Thursday, July 23, 2026, the Minister stressed that the progress achieved so far is “the product of reforms, discipline and sound economic management.”
Outlining the core pillars of the government’s strategy, Dr Forson highlighted three critical structural measures driving the stabilization efforts including Fiscal correction, Modernisation of Ghana’s tax regime, Complementary fiscal policy for inflation targeting and exchange rate stability.
Elaborating on the fiscal correction aspect, the Finance Minister explained that the government set out to take firm control of public finances, enforce expenditure constraints, and place the national debt stock back on a sustainable track.
He indicated that authorities re-engineered the country’s fiscal framework to guarantee higher operational efficiency, deepen transparency, and promote a more equitable distribution of economic burden across government institutions.
Dr Forson further noted that the 2025 Budget reset expenditure to 2023 nominal levels, successfully wiping out non-essential spending that previously weakened public financial control.
“As a result, primary expenditure declined sharply from 18.7 percent of GDP in 2024 to 13.2 percent of GDP in 2025,” he told lawmakers in the House.
By: Rainbowradioonline.com/Ghana
