Finance Minister Dr. Cassiel Ato Forson will present the government's anticipated New Economic Policy to Parliament on Thursday, July 23. This presentation forms part of the 2026 Mid-Year Budget Review. The new policy aims to shift Ghana's economic focus from stabilization towards sustainable long-term growth. It also seeks to consolidate recent macroeconomic gains achieved by the nation.
The new framework will build upon fiscal reforms and economic recovery measures implemented by the previous Mahama administration. Key areas of focus include sustainable job creation, enhancing productivity, fostering economic resilience, and promoting inclusive growth across all sectors. This strategic shift is crucial for Ghana's continued economic development.
This review is a statutory requirement under Section 28 of the Public Financial Management Act, 2016 (Act 921). It mandates the Finance Minister to update Parliament on the national budget's implementation. It also requires a presentation of the fiscal outlook for the remainder of the year. This provides transparency and accountability in government spending and revenue generation.
Dr. Forson is also expected to brief Parliament on Ghana's recently concluded International Monetary Fund (IMF) Extended Credit Facility (ECF) program. He will detail the country's transition to the new Policy Coordination Instrument (PCI). This transition signifies a new phase in Ghana's relationship with the IMF, moving towards a more advisory role.
The Minister will outline the government's plans to maintain fiscal discipline. He will also provide an assessment of the economy over the past year. This includes progress made under Ghana's external debt restructuring program. The impact of this program on the broader economy will be explained to lawmakers and the public.
Dr. Forson is expected to provide details on Ghana's improved debt-sustainability position. This follows recent assessments conducted by the International Monetary Fund. A stronger debt position is vital for attracting foreign investment and ensuring long-term financial stability.
On the fiscal front, the Finance Minister will present revenue performance for the first half of 2026. He will explain how the government plans to manage expenditure while protecting priority sectors for the rest of the year. This balance is critical for maintaining essential public services and driving economic growth.
The review will also outline measures aimed at expanding economic activity and creating jobs. It will address strategies for sustaining investor confidence and maintaining fiscal discipline. These elements are fundamental to Ghana's economic prosperity and stability.
Parliament will receive a comprehensive assessment of the economy. This covers revenue mobilization, expenditure, debt servicing, and the overall fiscal outlook for the second half of the year. The Minister may also announce adjustments to the 2026 Budget to reflect prevailing economic conditions. This flexibility allows the government to respond to unforeseen economic challenges or opportunities.
The Mid-Year Budget Review offers Parliament, investors, development partners, and the public an opportunity to assess Ghana’s economic performance. It also allows for monitoring the government’s implementation of the approved budget. This transparency is essential for good governance and public trust.