Finance Minister, Dr. Cassiel Ato Forson, says Ghana’s sharp drop in inflation is not due to chance or luck but the result of deliberate and strategic policy decisions taken by the government to stabilise the economy.
Presenting the 2025 Mid-Year Budget Review in Parliament on Thursday, July 24, Dr. Forson highlighted that inflation had declined significantly from a peak of 54.1% in December 2022 to 22.8% as of June 2025, demonstrating tangible progress in the government’s economic recovery efforts.
“Mr. Speaker, this achievement is not by chance or sheer luck. It is the result of deliberate government policy direction and strong commitment to macroeconomic stability,” he stated.
The Finance Minister reaffirmed that Ghana remains on track to meet its inflation target of 15.0% by the end of 2025, a projection consistent with the Bank of Ghana’s inflation outlook.
He emphasised that the decline in inflation had translated into positive economic signals, including increased investor confidence, reduced policy uncertainty, and improved cost of living trends.
Dr. Forson assured Parliament that government would continue to implement prudent fiscal and monetary measures to consolidate the gains made and ensure price stability going forward.
“We are on course to achieving the inflation rate target for 2025,” he said.
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The Finance Minister’s remarks form part of broader government messaging in the Mid-Year Review, which focused on economic recovery, fiscal consolidation, and sustaining progress under the IMF-supported Post-COVID-19 Programme for Economic Growth (PC-PEG).
Source: Starrfm.com.gh
