Ghana’s economy has crossed the $100 billion mark for the first time in the country’s history, Finance Minister Dr Cassiel Ato Forson has announced. Presenting the 2026 Mid-Year Fi
The report indicates that finance Minister Dr Cassiel Ato Forson has announced that Ghana’s economy has crossed the $100 billion mark for the first time, as he outlined what he described as major gains in growth, inflation control, fiscal management and debt restructuring.
It further notes that presenting the 2026 Mid-Year Fiscal Policy Review in Parliament on Thursday, July 23, Dr Forson stated the economy’s performance reflected what he described as the outcome of government’s economic management strategy rather than external factors alone.
“Our recovery is as a result of superior economic management,” he told lawmakers.
The Finance Minister stated the 2026 budget remains unchanged, and government is not seeking a supplementary budget, but has undertaken a “strategic realignment” of expenditure within existing allocations.
He maintained the government’s revised economic targets for the year, including a minimum GDP growth rate of 4.8%, end-year inflation of 8% plus or minus two percentage points, and a primary surplus of 1.5% of GDP.
For the first time in our nation’s history, the size of Ghana’s economy exceeded 100 billion dollars, firmly establishing Ghana as a major emerging market economy,” he said.
Dr Forson also stated that Ghana is now recognised as the eighth-largest economy in Africa.
He further stated that per capita income increased by more than $850 within a year, rising from $2,527 in 2024 to $3,385 at the end of 2025.
“These are not mere statistics,” he said.
“They represent higher incomes, stronger businesses, greater opportunities, and an economy with an enhanced capacity to invest in its people,” he added.
Dr Forson attributed the economic turnaround to three major interventions — fiscal correction, tax reforms and coordinated fiscal and monetary policies aimed at stabilising inflation and the exchange rate.
He stated primary expenditure declined from 18.7% of GDP in 2024 to 13.2% in 2025, while the primary balance improved from a deficit of 2.9% of GDP to a surplus of 2.5% over the same period.
The Finance Minister also highlighted the government’s decision to reduce the number of ministers from 123 to 60 and ministries from 30 to 23 as part of efforts to reduce public spending.
He added that expenditure controls had been extended to state-owned enterprises, which he accused of contributing significantly to public debt through unpaid obligations.
