ACCRA, Nov. 14 (Xinhua) -- Ghana's economy has recovered from its worst crisis in a generation and is now poised for sustained growth, Finance Minister Cassiel Ato Forson has said.
"The storm is past; the foundation is firm. Ghana's economy is breathing again, stronger, steadier, and full of promise," Forson said while presenting the 2026 Budget Statement to Parliament late Thursday.
He said when the government took office in January, it inherited an economy in distress, weighed down by debt, weakened by mismanagement, and stripped of confidence. Today, he said, the economy is on a firmer footing.
"This revival is a rebirth from the ashes of a daunting inheritance, a heavy burden laid upon us by the previous administration," he added.
He cited real gross domestic product growth of 6.3 percent in the first half of 2025, up from 5.1 percent in the same period of 2024, driven by stronger agriculture and services, alongside cooling inflation and renewed business confidence.
He described the services sector as the heartbeat of the recovery, expanding 8.8 percent in the period, while agriculture grew 6 percent. Household consumption surged 8.2 percent, while government spending slowed to 3.7 percent, reflecting efforts to rein in public expenditure.
The minister said the key lesson from past policy missteps is that fiscal discipline is the backbone of national progress and that there is no shortcut to responsible economic management.
The improved macroeconomic outlook, Forson said, has boosted investor confidence, with exports rising 11.5 percent, led by gold, cocoa, and nontraditional products. "This is growth that creates jobs, lifts incomes, and builds lasting stability," he said. ■
