Economy has made a significant turnaround in 2025, with key macroeconomic indicators showing substantial improvement, Finance Minister Cassiel Ato Forson said on Monday.
The country’s fiscal performance has been robust, with the overall fiscal balance on commitment basis recording a deficit of 1.0% of GDP, significantly outperforming the target deficit of 2.8% of GDP.
“The primary balance on commitment basis improved significantly to a surplus of 2.6% of GDP, exceeding the target surplus of 1.5% of GDP,” Forson said in a statement.
Ghana’s public debt stock has also reduced significantly by GH¢82.1 billion, from GH¢726.7 billion (61.8% of GDP) in December 2024 to GH¢641.0 billion (45.3% of GDP) in December 2025.
Inflation has fallen for thirteen consecutive months, declining sharply by 19.7 percentage points, from 23.5% at the end of January 2025 to 3.8% at the end of January 2026.
Interest rates have also fallen sharply, with the 91-day Treasury bill rate dropping from 27.7% at end-2024 to 6.5% in February 2026, lowering government borrowing costs and freeing up credit for the private sector.
The cedi has appreciated against the US dollar by 40.7% by end-December 2025, and gross international reserves reached US$13.8 billion, enough to cover 5.7 months of imports.
Forson attributed the turnaround to a combination of fiscal discipline, commitment controls, deepened structural reforms, and prudent monetary policy.
The government remains committed to sustaining these gains to create jobs and set the economy on a path of strong growth and economic transformation, he said.
