Ato Forson to unveil gov’t’s new economic strategy in Mid-Year Budget Review

Finance Minister Dr Cassiel Ato Forson is expected to unveil the government's highly anticipated New Economic Policy when he presents the 2026 Mid-Year Budget Review to Parliament on Thursday, July 23, 2026.

The policy is expected to signal a major shift in Ghana's economic strategy, moving from macroeconomic stabilisation to a long-term growth agenda focused on job creation, productivity, investment and sustainable development.

According to government sources, the new economic policy framework will build on the fiscal reforms and recovery measures introduced by the Mahama administration over the past year.

Having achieved significant progress in restoring macroeconomic stability, the government is now expected to prioritise policies that promote sustainable economic expansion, improve productivity, strengthen resilience against external shocks and ensure inclusive growth across all sectors of the economy.

The policy is also expected to outline strategies for boosting private sector investment, supporting industrialisation and creating sustainable employment opportunities, particularly for Ghana's growing youth population.

A key highlight of the Mid-Year Budget Review will be an update on Ghana's recently concluded International Monetary Fund (IMF) Extended Credit Facility (ECF) programme and the country's transition to the new Policy Coordination Instrument (PCI).

Dr Forson is expected to explain how the government intends to sustain the macroeconomic gains achieved under the IMF-supported programme while maintaining fiscal discipline without the need for additional financial assistance under a lending arrangement.

The Finance Minister is also expected to provide Parliament with an assessment of the economy's performance over the past year and outline measures to safeguard continued economic stability.

Parliament is expected to receive an update on Ghana's ongoing external debt restructuring programme and its impact on the country's economic outlook.

The Finance Minister is anticipated to present details of Ghana's improved debt sustainability position following recent assessments by the International Monetary Fund, highlighting the progress made in reducing debt vulnerabilities and strengthening public finances.

The update is expected to reassure investors and development partners of the government's commitment to prudent debt management and fiscal responsibility.

Dr Forson is also expected to present detailed revenue performance figures for the first half of 2026 and explain how government intends to manage expenditure during the remainder of the fiscal year.

The review is expected to outline measures aimed at protecting priority sectors while ensuring efficient public spending, improving domestic revenue mobilisation and maintaining fiscal discipline.

Government is also expected to provide Parliament with a comprehensive assessment covering:

• Revenue mobilisation performance
• Public expenditure trends
• Debt servicing obligations
• Fiscal deficit management
• Economic outlook for the second half of 2026

The Minister may also announce adjustments to the 2026 Budget to reflect prevailing economic conditions and emerging fiscal priorities.

The Mid-Year Budget Review is expected to introduce additional policy interventions designed to stimulate economic activity and strengthen investor confidence.

Government is likely to outline initiatives aimed at supporting businesses, expanding employment opportunities, encouraging investment and accelerating economic transformation as the country moves beyond its recovery phase.

The anticipated New Economic Policy is expected to serve as the government's long-term roadmap for sustaining growth while preserving the macroeconomic stability achieved over the past year.

The presentation of the Mid-Year Budget Review is a statutory requirement under Section 28 of the Public Financial Management Act, 2016 (Act 921).

The law requires the Finance Minister to update Parliament on the implementation of the approved national budget and provide the fiscal outlook for the remainder of the financial year.

Beyond fulfilling a legal obligation, the review offers Parliament, investors, development partners and the general public an opportunity to assess Ghana's economic performance, monitor government spending and evaluate the implementation of key fiscal policies.

The 2026 Mid-Year Budget Review is therefore expected to provide important insights into the country's economic direction while setting the stage for the next phase of Ghana's development agenda.