Dr. Cassiel Ato Forson<\/p>\n
\u00a0<\/p>\n
The Minister for Finance, Dr. Cassiel Ato Forson, has indicated that the year 2025 marked one of the most significant economic turnarounds in the nation\u2019s history.<\/p>\n
According to him, the government successfully reversed the economic challenges inherited from the previous year, with key indicators showing remarkable improvement.<\/p>\n
In a post on his social media page, the Minister noted that at the end of 2024, the nation faced steep economic hurdles, including a primary balance deficit of 3.0% of GDP, a 91-day Treasury bill rate of 27.7%, a 19.2% depreciation of the cedi against the US dollar, and inflation at 23.8%.<\/p>\n
He said through a combination of fiscal discipline, commitment controls, structural reforms, and prudent monetary policy, the government restored macroeconomic stability and put public finances on a sustainable path.<\/p>\n
Fiscal Reforms Deliver Results<\/p>\n
The Finance Minister said revenue mobilisation and spending controls underpinned fiscal performance in 2025.<\/p>\n
He pointed out that the overall fiscal deficit on a commitment basis fell to 1.0% of GDP, outperforming the target of 2.8%.<\/p>\n
According to him, the primary balance achieved a surplus of 2.6%, exceeding the target of 1.5%. On a cash basis, the overall deficit dropped to 3.1%, with a primary balance surplus of 0.5%.<\/p>\n
\u201cSound debt management also reduced public debt sharply by GH\u00a282.1 billion, from GH\u00a2726.7 billion (61.8% of GDP) in December 2024 to GH\u00a2641.0 billion (45.3% of GDP) in December 2025, representing one of the largest debt reductions in Ghana\u2019s history,\u201d he intimated.<\/p>\n
Macroeconomic Indicators Rebound<\/p>\n
Dr. Forson said real GDP growth strengthened to 6.1% in the first three quarters of 2025, led by services and agriculture, while non-oil growth rose to 7.5%, up from 5.8% in 2024.<\/p>\n
He added that inflation fell for 13 consecutive months, dropping by 19.7 percentage points from 23.5% at the end of January 2025 to 3.8% in January 2026.<\/p>\n
\u201cInterest rates also declined sharply. The 91-day Treasury bill rate fell from 27.7% in December 2024 to 6.5% in February 2026, while the average commercial bank lending rate fell from 30.25% to 20.45%. Credit to the private sector expanded by GH\u00a217.1 billion, with further growth expected in 2026,\u201d he stressed.<\/p>\n
He continued that the Ghanaian cedi appreciated significantly, gaining 40.7% against the US dollar, 30.9% against the pound sterling, and 24% against the euro.<\/p>\n
He said the country\u2019s external position also strengthened, with the current account recording a US$9.1 billion surplus, up from US$1.5 billion in 2024, and gross international reserves reaching US$13.8 billion, sufficient to cover 5.7 months of imports.<\/p>\n
By Ernest Kofi Adu<\/p>\n","protected":false},"excerpt":{"rendered":"Dr. Cassiel Ato Forson \u00a0 The Minister for Finance, Dr. Cassiel Ato Forson, has indicated that the year…\n","protected":false},"author":2,"featured_media":314996,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-314995","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/314995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=314995"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/314995\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/314996"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=314995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=314995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=314995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}