The Majority Leader, Mahama Ayariga, has commended the Finance Minister, Dr Cassiel Ato Forson, for the content of the 2026 Mid-Year Budget Review.
He assured the Finance Minister of the support of Parliament as he works to improve the finances and the economy,
“This house will definitely go through the Bills and ensure the passage of the Bills presented by the Finance Minister,” he added.
During the budget presentation, the Minister of Finance said, among other things, that the international capital market is inviting Ghana to come and borrow.
He attributed this to the prudent management of the local economy by the Mahama administration because previously under the Akufo-Addo administration, Ghana could not access the market.
Dr Forson, however, assured that the Mahama administration is not in a hurry to return to the capital market.
“The market is inviting us back, but I want to assure you that we are not in a hurry,” he said.
The Minister further told Parliament that the implementation of the 2026 budget statement is firmly on track.
He added that the drop in the policy rate to 14% in July is enabling businesses to thrive.
He makes the point that investors are able to borrow at lower rates to expand their businesses.
Dr Forson said, “Lower policy rate is creating room for investors to expand.”
The Cedi has stabilised, he said, stressing that the “2026 budget is firmly on track…Ghana has achieved its targets for the first half of the year 2026, and is on track to achieve our end-year target of 1.5% of GDP.”
He added that “confidence in the economy has been rebuilt.”
The Minister further said that every major macroeconomic indicator has improved significantly due to sound economic discipline.
He said that the recovery is a result of superior economic management.
He added that debt restructuring does not create fiscal discipline but only creates fiscal space.
He noted that when the Mahama administration took over governance, the economy was on its knees. However, with prudent policies, they have turned the corner.
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“President Mahama took over an economy with reckless spending, excessive borrowing, and lack of accountability. President Mahama took over an economy that was on its knees,” he said.
“The cedi depreciated as never seen before,” he added.
He added, “The progress Ghana is recording today did not happen by chance. It is superior economic management”
Dr Forson further told the House that the economy must not be allowed to return to the period of excessive cedi depreciation.
“The 2022 economic crisis was not merely an accident but the result of poor policy choices, reckless spending and excessive borrowing,” he said.