Finance Minister Seeks No Additional Appropriations in Mid-Year Budget Review
Finance Minister, Dr Cassiel Ato Forson, has told Parliament that the government is not seeking supplementary funding in the 2025 Mid-Year Budget Review, signalling a commitment to fiscal restraint as the economy shows early signs of recovery.
“I am not asking for additional money for the Appropriations Act,” Dr Forson said in his address to lawmakers on Thursday, July 24, reinforcing the administration’s pledge to maintain discipline in public spending.
The Minister used the opportunity to outline the challenges inherited by the current government, including a fragile financial sector burdened with high levels of non-performing loans.
“Indeed, as President Mahama said, the whole of Ghana was a crime scene,” he remarked, in a scathing critique of the previous administration’s economic management.
Signs of Recovery and Policy Continuity
Despite the grim outlook of the economy at the beginning of the 2025 fiscal year, Dr Forson said the economy is now showing signs of recovery under the leadership of President John Dramani Mahama, citing improved macroeconomic indicators, increased investor confidence, and a stronger local currency.
He stressed that sustaining the momentum of stability—particularly in the exchange rate—will depend on adherence to prudent fiscal policies.
“We will maintain fiscal discipline through prudent policies,” he affirmed, noting that continued restraint in spending is crucial to consolidating recent gains and keeping inflation and debt levels under control.
The statement comes as Ghana continues to navigate its IMF-backed reform programme aimed at restoring macroeconomic stability, ensuring debt sustainability, and strengthening the financial sector.
