What Every Ghanaian Needs to Know About the NDC’s First Mid-Year Budget 2025

On July 24, 2025, Finance Minister Dr. Cassiel Ato Forson stood before Parliament and the nation to present a critical milestone: the new National Democratic Congress (NDC) administration’s first mid-year fiscal policy review and budget update. This was more than just numbers on a page, it was a bold declaration of Ghana’s renewed commitment to economic stability, growth, and inclusive progress.

Here’s what every Ghanaian should know about this pivotal budget and what it means for the country's future:

1. A Tough Inheritance, a Steady Hand

The NDC government inherited an economy in deep distress marked by spiraling debt, fiscal imbalances, and shaken public confidence. But instead of making excuses, they embraced the challenge with ambition and resolve. Dr. Forson’s presentation made it clear: the focus is on resetting Ghana’s economy and restoring hope.

2. Strong Fiscal Discipline Yielding Results

The government’s economic management model prioritizes tight fiscal control without sacrificing social investments. The mid-year review revealed impressive outcomes:

Ghana posted a primary fiscal surplus, beating tough targets, meaning more money is going into development than debt servicing.

The overall fiscal deficit shrank significantly, showing prudent budgeting and spending.

Inflation dropped from a worrying 23.8% at the end of 2024 to 13.7% mid-2025, making daily life less expensive for ordinary Ghanaians.

Interest rates on treasury bills and consumer loans are declining, great news for businesses and individuals borrowing money.

3. The Ghana Cedi is Strengthening

For the first time in decades, the Ghana Cedi is appreciating against major currencies. It gained over 40% against the US dollar by mid-2025, a historic turnaround that bolsters the purchasing power of Ghanaians and creates a stable environment for trade.

4. Debt Under Control and Repayment on Track

The government cut public debt by GH¢113.7 billion in six months, bringing the debt-to-GDP ratio down to 43.8%. This marks Ghana’s best position in years and is a key factor in regaining investor confidence. Importantly, Ghana continues to honor its debt obligations by making timely payments to Eurobond holders and domestic investors alike.

5. Focused Investments for a Better Ghana

The NDC administration is channeling funds strategically into areas that matter most:

Education: Including free tertiary education for students with disabilities and increased funding for infrastructure.

Health: Launching the Ghana Medical Care Trust Fund (MahamaCares) to improve chronic disease treatment.

Infrastructure: The ambitious “Big Push” program is rebuilding crucial roads, bridges, and housing for all regions.

Agriculture: Supporting irrigation projects and boosting local production to make Ghana food secure.

Digital Economy: Rolling out the One Million Coders Programme and enhancing IT infrastructure to prepare youth for the future.

6. Crackdown on Corruption and Enhanced Transparency

Acknowledging the damaging impact of past mismanagement, the government has instituted payroll audits to eliminate ghost workers, strengthened procurement controls, and vowed to aggressively fight corruption to restore public trust.

7. New Revenue Measures and Tax Reforms

With the support of the IMF and other partners, Ghana is enhancing tax collection through reforms aimed at removing distortions in the VAT system and tackling smuggling issues, especially in customs. These measures aim to raise more revenue fairly, so the government can fund essential services without burdening citizens unduly.

8. Ambitious Social Safety Nets

The budget increased grants to the Livelihood Empowerment Against Poverty (LEAP) beneficiaries and expanded free school feeding programs, lifting vulnerable Ghanaians and ensuring children receive proper nourishment and education.

9. Economic Growth and Optimism

Despite a challenging global environment, Ghana’s economy grew at a strong pace in early 2025, driven by key sectors like agriculture, industry, and services. The government’s policies aim to sustain and build on this momentum, promising a more resilient and inclusive economy.

In Conclusion: A Budget for the People and the Future

Dr. Ato Forson’s mid-year budget review is not just about numbers, it’s about a vision to reset Ghana’s economy for growth, stability, and fairness. It’s a call for unity, resilience, and shared sacrifice to build the Ghana that every citizen deserves. While much work remains, the path forward is clearer, grounded in discipline, strategic investments, and hope renewed.

As Ghana navigates through tough global headwinds, this mid-year budget signals the NDC’s commitment to leading with purpose and delivering tangible benefits to all Ghanaians