Ghana Finance Minister Says Debt Target Met, Poverty Falls in Mid-Year Review

Finance Minister Dr. Cassiel Ato Forson presented Ghana's 2026 Mid‑Year Budget Review to Parliament, announcing that the country has reached its statutory public‑debt target of 45 % of GDP ahead of the IMF programme schedule. Inflation continued to ease, falling to 5.3 % by June 2026, while real GDP grew 6.4 % in the first half of the year, pushing the economy past the US$100 billion milestone.

The review also highlighted a decline in multidimensional poverty from 24.9 % to 21.9 %, meaning roughly 950,000 Ghanaians moved out of poverty in one year. Fiscal consolidation reduced primary expenditure from 18.7 % of GDP in 2024 to 13.2 % in 2025, turning the primary balance from a 2.9 % deficit to a 2.5 % surplus.

Opposition leaders criticised the government's approach, with Majority Leader Mahama Ayariga demanding former Finance Minister Ken Ofori‑Atta return to account for previous debt accumulation, and former Finance Minister Mohammed Amin Adam accusing the administration of losing public goodwill. Tano North MP Dr. Gideon Boako also warned against relying on foreign loans to fund the Free Senior High School programme, urging domestic revenue mobilisation instead.