Finance Minister Dr Cassiel Ato Forson has attributed Ghana’s improving economic performance to deliberate policy reforms implemented by the Mahama administration, saying the government inherited a struggling economy but has succeeded in restoring stability.

Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, Dr Forson said the current administration took office at a time when the economy was facing serious fiscal and macroeconomic challenges caused by years of excessive borrowing, uncontrolled spending and weak financial discipline.

According to the Finance Minister, the government inherited an economy that had been severely weakened, with the cedi experiencing unprecedented depreciation and public finances under significant strain.

“President Mahama took over an economy with reckless spending, excessive borrowing, and lack of accountability. President Mahama took over an economy that was on its knees,” he told Parliament.

Dr Forson stated that the improvements being recorded across key macroeconomic indicators are the result of sound economic policies and disciplined fiscal management rather than favourable circumstances.

“The progress Ghana is recording today did not happen by chance. It is superior economic management,” he said.

He further cautioned that the country must not return to the economic conditions that triggered the sharp depreciation of the cedi and the broader financial crisis experienced in 2022.

According to the Finance Minister, the 2022 economic downturn was largely caused by poor policy decisions, excessive government expenditure and unsustainable borrowing, stressing that the current administration remains committed to maintaining fiscal discipline to safeguard the country’s economic recovery.