Ato Forson to present mid-year budget Thursday

Finance Minister Dr. Cassiel Ato Forson is scheduled to present the government’s much-anticipated Mid-Year Fiscal Policy Review to Parliament on Thursday, July 24, 2025.

His presentation comes at a time when the exchange rate has shown relative stability, though key stakeholders, including the Ghana Union of Traders Association (GUTA), the Ghana Chamber of Construction Industry, and sections of the public, have raised concerns about the lack of tangible benefits from this stability on prices and business operations.

Government sources indicate that Dr. Forson’s update will provide clarity on Ghana’s current fiscal position and outline measures to sustain economic stability while staying within the targets agreed under the International Monetary Fund (IMF) program.

He is also expected to reaffirm the administration’s commitment to fiscal discipline while seeking to assure the public of the government’s resolve to maintain cedi stability and keep inflation on a downward path.

The Mid-Year Review is anticipated to include revised projections on inflation and detail policy measures being pursued to consolidate recent gains in disinflation.

Dr. Forson is likely to highlight interventions in food supply chains and coordination with monetary policy as part of efforts to ease price pressures on households.

The state of the financial sector is also expected to feature prominently, as it continues to grapple with the lingering effects of the Domestic Debt Exchange Programme (DDEP) and ongoing challenges related to liquidity and public confidence.

Stakeholders are looking to the Finance Minister for firm assurances on the health of key banks, particularly following government announcements of recapitalisation plans for institutions such as the National Investment Bank (NIB), Agricultural Development Bank (ADB), and Consolidated Bank Ghana (CBG).

Dr. Forson is also expected to address legacy issues within the Specialised Deposit-Taking Institutions (SDI) subsector, which remains under scrutiny as part of Ghana’s IMF program, with the Fund having flagged the need for urgent resolution.

Meanwhile, the Finance Minister is expected to defend the government’s decision to introduce the new GHS1 per litre fuel levy, which took effect earlier this month.

The levy, aimed at raising additional revenue to address energy sector liabilities, has attracted criticism from transport unions and civil society groups who argue that it reimposes a financial burden on consumers already grappling with high fuel prices, despite recent marginal reductions driven by exchange rate improvements.