Finance Minister Dr. Cassiel Ato Forson has told Parliament that Ghana has outperformed all key economic targets for the first half of 2026, citing strong growth, lower inflation, and improved fiscal discipline.
Presenting the Mid-Year Fiscal Policy Review, Dr. Forson said, “Ghana has not merely met its first half year target, it has exceeded them.”
“Mr. Speaker, overall GDP growth was 6.4% in the first quarter of 2026, well ahead of the 4.8% full year target,” he announced.
Non-oil growth also impressed. “Non-oil GDP growth was 6.3% in the first quarter of 2026, well ahead of the 4.9% full year target,” Dr. Forson added.
The Minister reported a sharp decline in inflation, a key relief for households.
“Inflation has more than halved, falling from 13.7% in June 2025 to 5.3% by end of June 2026, against a target of 8% +/- 1% at the end of the year.”
On government finances, Dr. Forson said the primary balance recorded a surplus of 0.9% of GDP on commitment basis, putting government “firmly on track to achieve our end year target of 1.5% of GDP.”
He also disclosed that Gross International Reserves stood at 5 months of import cover as at end of June 2026, exceeding the target of at least 3 months.
Presenting the provisional fiscal performance for January to June 2026, the Minister said it was measured against these approved targets:
Overall deficit on commitment basis 2.2% of GDP, Primary surplus on commitment basis 1.5% of GDP, Overall deficit on cash basis 4% of GDP, Primary surplus on cash basis 0.4% of GDP.
“Mr. Speaker, provisional fiscal outturn for the first half of 2026 was stronger than anticipated, indicating continuing prudence in fiscal management and enhancing the government fiscal consolidation agenda,” Dr. Forson stated.
Source:Mybrytfmonline.com/Emmanuel Anyigba
