By Emmanuel Nduka Obisue
Ghana’s economic outlook is brightening as the country records stronger growth indicators and renewed investor interest, according to Finance Minister Cassiel Ato Forson, who presented the 2026 national budget to parliament on Thursday.
The minister described Ghana as “back, strong, credible, and open for business,” noting that the government has succeeded in reversing one of the most difficult economic periods in recent years.
Forson told lawmakers that real GDP growth is projected to reach at least 4.8 percent in 2026, supported by fiscal reforms aimed at cutting the deficit to 4.0 percent and achieving a primary surplus of 1.5 percent.
He said these targets are built on policies already delivering results, including improved public financial management and stricter control of government spending.
He also pointed to the sharp decline in inflation as a major sign of progress. Inflation, which had climbed to 54 percent in January 2023, dropped to 8 percent by October 2024, the lowest level in more than three years.
With inflation easing and the economic environment stabilizing, the central bank responded by lowering interest rates by 350 basis points in September, bringing the benchmark rate down to 21.5 percent.
According to Forson, the combination of lower inflation, a more stable cedi, and better policy credibility has helped restore investor confidence and shifted the national conversation from crisis management to long-term recovery. He announced that Ghana plans to return to domestic debt markets in 2026, a move government officials believe will be supported by the country’s improving fiscal position.
Forson added that Ghana intends to sustain the reforms that have restored macroeconomic stability and strengthen its engagement with international investors who are beginning to view the country as a more reliable and attractive destination for long-term growth.
