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Finance Minister Dr. Cassiel Ato Forson has announced that Ghana outperformed several of its major macroeconomic targets during the first half of 2026, attributing the gains to the government’s fiscal reforms and economic management policies.
Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, Dr. Ato Forson said the country’s first-quarter economic performance reflected broad-based improvements in growth, inflation, fiscal management and foreign exchange reserves.
According to the Finance Minister, Ghana’s economic expansion exceeded expectations, with both overall and non-oil Gross Domestic Product (GDP) growth surpassing the government’s full-year projections.
He said the strong performance was driven not only by the petroleum sector but also by sustained growth across non-oil sectors, signalling a more resilient and diversified economy.
Dr. Ato Forson noted that fiscal consolidation measures and prudent economic management had helped strengthen macroeconomic stability, improve investor confidence and support the country’s recovery.
“Ghana has not merely met its first half-year targets, it has exceeded them. Overall GDP growth was 6.4 percent in the first quarter of 2026, well ahead of the 4.8 percent full-year target. Non-oil GDP growth was 6.3 percent in the first quarter of 2026, well ahead of the 4.9 percent full-year target.
“Inflation has more than halved, falling from 13.7 percent in June 2025 to 5.3 percent by the end of June 2026. The Primary Balance recorded a surplus of 0.9 percent of GDP on a commitment basis, firmly on track to achieve our end-of-year target of 1.5 percent of GDP. Gross International Reserves stood at five months of import cover as at June 2026, exceeding the target of at least three months’ cover.”
The Finance Minister said the results demonstrate that the government’s economic recovery programme is delivering measurable outcomes and has positioned Ghana to sustain growth while maintaining fiscal discipline for the remainder of the year.