Finance Minister to present Mid-Year Budget Review on July 24, 2025

Finance Minister Dr Cassiel Ato Forson is set to present the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24.

The country’s Financial Administration Act requires the finance minister to update parliament on the performance of the country in the first half of the year and the fiscal strategy for the next six months of the year.

The Mid-Year Budget Review is also in line with Section 28 of the Public Financial Management Act, 2016 (Act 921), which mandates the Minister of Finance to update Parliament on the execution of the national budget and provide an outlook for the rest of the fiscal year.

Expectations

This year’s review is expected to offer a detailed assessment of how the government has managed the economy over the first six months of 2025, including updates on revenue generation, spending, debt servicing, and policy direction.

It will also outline any proposed amendments or adjustments to fiscal plans in light of current economic conditions.

The presentation is anticipated to shed light on Ghana’s macroeconomic performance, addressing issues such as inflation trends, exchange rate stability, and progress on structural reforms.

The finance minister Ato Forson is expected to update the public on the revenue situation, for the first six months of this year and whether we are on track to meet the end year target.

The Mid-Year Budget Review Budget Review will also allow the Minister to update the public on measures being instituted to sustain the current economic recovery.

Data recently released y the Bank of Ghana showed that the economy is showing signs of strong recovery.

 The economic data for half-year showed that “Real GDP expanded by 5.3% in the first quarter, driven by strong growth in agriculture and services, while non-oil GDP rose by 6.8%.

 The Bank of Ghana’s Composite Index of Economic Activity increased by 4.4% year-on-year in May, and the latest PMI readings point to rising business and consumer confidence

The data also showed that “Private sector credit growth has also improved, reaching 19.9% in April 2025, up from 10.8%a year earlier, with the contraction in real credit narrowing substantially”.

The document also showed that Ghana’s external position remains robust recording “provisional trade surplus of US$5.6 billion in the first half of 2025, supported by strong gold and cocoa export receipts”.

The current account surplus has widened to US$3.4 billion over the same period.

On the International Monetary Fund Programme,  the Minister is expected to highlight significant progress that the government has made and his commitment to the expected conditions.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.