Finance Minister Ato Forson to Present Mid-Year Budget as Performance Reports Highlight Governance Challenges

The Institute of Economic Research and Public Policy (IERPP) has issued a sobering assessment of President John Mahama’s first year in office, assigning the administration a score of 4.9 out of 10 for 2025. According to Professor Isaac Boadi, the IERPP’s Executive Director, the below-average rating stems from significant weaknesses in infrastructure, energy, industry, and social service delivery. A particularly alarming statistic highlighted in the report was the capital expenditure execution rate, which stood at a mere 0.9%. This assessment suggests that the government’s performance in its inaugural year fell short of expectations, particularly in driving tangible developmental projects. Adding to the political scrutiny, former MP Sylvester Tetteh has leveled serious allegations against the government’s economic management. Tetteh claimed that over $12 billion was spent in less than two years to artificially stabilize the Ghanaian cedi, describing the move as a costly public relations exercise rather than a sustainable economic strategy. Furthermore, Tetteh raised alarms regarding youth unemployment, which has reached a staggering 49% in Greater Accra, labeling it a national security threat. He also dismissed the administration’s proposed 24-hour economy policy and the plan to establish 264 markets, contrasting them unfavorably with the New Patriotic Party’s (NPP) Agenda 111 hospital projects. The governance landscape faces further challenges as the 2025 Auditor-General’s Report revealed financial irregularities totaling GH¢5.26 billion, more than double the previous year's figures. Analysts suggest these recurring failures point to systemic institutional weaknesses rather than isolated errors. In an effort to address economic inclusivity, however, Finance Minister Dr. Cassiel Ato Forson recently announced the release of GH¢400 million for the capitalization of the Women’s Development Bank. This initiative, supported by Vice-President Prof. Naana Jane Opoku-Agyemang, aims to empower women-owned businesses and is expected to be operational by the end of the year. Amidst these mixed assessments, Dr. Cassiel Ato Forson is scheduled to present the 2026 Mid-Year Budget Review to Parliament on July 23, 2026. The presentation, mandated by the Public Financial Management Act, will outline the government’s transition from a period of macroeconomic stabilization to a growth-oriented agenda. Key highlights are expected to include updates on Ghana’s engagement with the International Monetary Fund (IMF), specifically the transition from the Extended Credit Facility (ECF) to a Policy Coordination Instrument (PCI). The review will provide a critical opportunity for the government to realign its fiscal policies, address the IERPP’s concerns, and provide a roadmap for sustainable job creation and economic recovery.