Finance Minister Dr. Cassiel Ato Forson says the government will not request extra funding in the 2025 Mid-Year Budget Review Ghana. He made this clear as he confirmed that all macroeconomic targets for 2025 will remain unchanged.
Speaking in Parliament on Thursday, July 24, Forson noted that developments in the first half of 2025 do not necessitate altering the Appropriations Act. He specified that GDP growth, inflation, primary balance, and reserve benchmarks are still expected to be met.
“Mr. Speaker, I am not asking for additional money from the Appropriations Act. We maintain the following macroeconomic targets for 2025,” he stated.
Recovery Indicators and Revenue Adjustments in the 2025 Mid-Year Budget Review
Dr. Forson outlined key targets that will guide fiscal policy. He reaffirmed ambitions for at least 4% overall GDP growth, plus 4.8% non-oil growth. He also cited an end-year inflation goal of 11.9%, a primary balance surplus of 1.5% of GDP, and international reserves covering at least three months of imports.
Forson emphasised signs of economic recovery as rationale for keeping the current budget intact. “Although we have made significant progress, we are cautiously optimistic,” he noted.
He revealed that projections will be adjusted to reflect revenue from the Energy Sector Levies Amendment Act, 2025 (Act 1141). The Finance Minister clarified that both revenue and expenditure estimates will incorporate this new levy.
