The Finance Minister, Cassiel Ato Baah Forson is expected in Parliament to present the mid-year budget today Thursday July 2025, to consolidate the gains made so far.
It is the second time the minister will be in the august house to speak to the nation on the economy, after presenting the main budget earlier this year.
Ahead of the mandatory exercise performed on behalf of the president, businesses are upbeat especially at a time most of the macroeconomic indicators appear to be pointing to the right direction.
Barely 7 months after taking office, the National Democratic Congress (NDC) government, has been able maintain fiscal discipline, generally stabilized the economy, bringing inflation to 13.7 from 23.5. It is hoping to bring the figure further down to a single digit by close of the year.
The Cedi, which rose to over GHS17 against the US dollar at a point in the previous administration is now hovering around a little over GHS10. The national currency has been celebrated as the best performing currency in the world by Bloomberg.
Prices of goods and services, fuel prices continue to drop leading to marginal reduction in lorry fares. Cost of living according to reports have generally been stable.
While the debt level appears to be stable if not reducing, government has been able to service these debts due to what looks like a prudent management of the economy by the managers.
The seeming prudent management has seen Ghana’s credit rating moved from negative to positive.
The government initially in the year projected a Gross Domestic Product (GDP) growth at 4.4 percent, but recent data from the Ghana Statistical Service showed 5.3 in the first quarter alone. The expectation is that the figure is going to rise further if things continue to perform in this manner.
Coming under an International Monetary Fund (IMF) bequeathed the John Mahama government by his predecessor Akufo-Addo government administration, the minister is expected to stay within the measures prescribed by the Fund.
While government will be expected to stay within the line, it is obligated to tackle issues in the labour front especially the one concerning the Nurses and Midwifery Association.
The group, which has been demanding implantation of their condition of service agreed upon under the previous government has been threatening to strike after the initial one last month led to needless deaths.
Reports have confirmed that, out of four or so issues they were demanding immediately, the administration has agreed to include three of that in the mid-year budget.
The minister will be expected to also speak to issue regarding forex which the importers and exporters have been complaining about. The response has been that, the shortage is artificial because there is enough dollars in the system except that there is stricter rules and documentations concerning acquiring them.
The expectation is that no new tax will be introduced following the implementation of the increase in the Energy Sector Levy by GHS1.