2026 Budget: ‘Ghana’s economy has recovered’ – Dr Ato Forson declares

The Minister of Finance, Dr Cassiel Ato Forson, has declared that Ghana’s economy has recovered, marking a resurgence of investor confidence and an improved macroeconomic outlook.

According to him, the current administration has successfully turned the economy around despite the severe challenges experienced earlier in the year due to the lingering effects of the 2024 fiscal slippages, which placed significant strain on households, businesses and public finances.

Presenting the 2026 Budget and Economic Policy Statement in Parliament on Thursday, 13 November, under the theme “Resetting for Growth, Jobs and Economic Transformation,” Dr Forson outlined strong data on real GDP growth, supported by improvements in agriculture and services, lower inflation, and renewed business confidence.

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He stated:

Mr Speaker, Ghana's economy has regained its rhythm. Real GDP expanded by 6.3% in the first half of 2025, up from 5.1% in the same period of 2024. Driven by stronger agriculture and services, lower inflation, and renewed business confidence. Non-oil GDP grew by 7.8%, showing that our growth is now powered by domestic production.

He continued:

Mr Speaker, the service sector remains the heartbeat of recovery, surging 8.8%, with ICT up 17.2%, finance and insurance up 9.5%, and education up 14.9%. Agriculture, the backbone of stability, also grew by 6%, doubling that of last year.

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Mr Speaker, thanks to targeted farms, farm support and smarter policies, industry held steady despite reduced oil output. Manufacturing rose 6.3% and construction 4.0%, reflecting reliable energy supply and revived infrastructure projects.

Dr Forson further highlighted Ghana’s return to single-digit inflation, saying:

Inflation has fallen faster than anyone imagined, from 23.8% in December 2024 to 8% by October 2025. Ghana is back to single-digit inflation. This was not by sheer luck; it is the outcome of disciplined fiscal policy, steady monetary management, stable exchange rates, and strong domestic production.

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Dr Forson added that the government remains committed to consolidating these gains through sound economic management and inclusive growth policies that ensure lasting prosperity for all Ghanaians.