Ghana Posts 1.1% Primary Surplus as Economic Recovery Surpasses Expectations
Finance Minister, Dr Cassiel Ato Forson, has reaffirmed that the country’s economy is firmly on the path to recovery, citing a strong fiscal turnaround, renewed investor confidence, and improved macroeconomic indicators under the Mahama administration.
Presenting the 2025 Mid-Year Budget Review in Parliament on Thursday, July 24, Dr Forson noted that the government had achieved “significant progress” in less than 200 days in office, pointing to decisive reforms that have helped restore economic stability.
“Mr Speaker, in less than 200 days, we have brought back clarity, certainty, stability, and purpose to our economic policy direction,” he told Parliament. “We have made significant progress; the signs of recovery are obvious, evident, noticeable, visible, tangible and they are being felt.”
Surging Primary Surplus Bolsters Confidence
Dr Forson revealed that Ghana recorded a primary budget surplus of 1.1% of GDP on a commitment basis by the end of June 2025, far surpassing the government’s target of 0.4% for the period. The figure signals an accelerated fiscal consolidation effort and stronger-than-expected revenue performance.
The surplus reflects improved expenditure control, enhanced domestic revenue mobilisation, and renewed fiscal discipline as the government works to stabilise the economy following years of macroeconomic volatility.
The Finance Minister stressed that the administration remains focused on sustaining the recovery and building on recent gains to deliver inclusive growth and long-term stability.
