Ghanaians on the whole believe the country’s macroeconomic performance in the year’s first half has met, or even exceeded, expectations.
In a survey conducted by professional services firm PwC, 95 percent of Ghanaians agreed with the aforementioned belief. Indeed, 68% remain confident that the overall real Gross Domestic Product (GDP) growth target of 4% will be achieved or surpassed.
However, 45% of the respondents’ lament that the drop in inflation is not reflecting in their daily lives. Nonetheless, 62% of them are optimistic that the targeted end-period inflation will be achieved.
The Bank of Ghana has targetted a 12% end-of-period inflation while government has targetted about 11%.
On tax policy, 60% of respondents believe the tax policy environment in first-half 2025 has been supportive yet still needs improvement – but 25% say tax administration experience has been unsatisfactory.
Meanwhile, Minister of Finance Dr. Cassiel Ato Forson said during the 2025 Mid-Year Budget Review in parliament yesterday that government has successfully restored economic clarity, certainty and stability in under 200 days since assuming office.
Dr. Forson noted that government’s swift and targetted interventions have begun yielding results, rekindling confidence in the economy. He disclosed that Ghana’s economic turnaround is not merely theoretical but is already being experienced by citizens and investors alike.
An Associate Professor of Finance at the University of Ghana Business School, Dr. Elikplimi Komla Agbloyor, is urging government to focus on fiscal consolidation, revenue performance and borrowing transparency as it presents the mid-year budget review.
He added that it is crucial for the government to build on recent gains and avoid slipping back into unsustainable spending patterns. Although some want the government to spend more, Dr. Agbloyor cautions that will increase the deficit, and is going to cause problems for us.
He emphasised the need for improved revenue performance, which would boost credibility and help foster market confidence. He also highlighted the importance of clarity around government borrowing plans, especially as inflation continues to decline and the monetary policy rate eases.
On the external front, Dr. Agbloyor calls for updates on key financing developments – including the Eurobond restructuring and IMF disbursements – and how these will be used to consolidate macroeconomic stability.
Post Views: 64
