Princess Avenyoh
The Association of Ghana Industries (AGI) says it does not expect any significant policy changes in the government’s upcoming mid-year budget review.
Scheduled to be presented today, July 24 2025 by the Finance Minister, Dr. Cassiel Ato Forson.
AGI’s expectations are based on positive economic indicators such as the recent appreciation of the cedi and the steady decline in inflation over the past months.
AGI CEO, Seth Twum Akwaboah said the Association is looking forward to policies that will build on the progress made so far.
“If you look at the major macroeconomic indicators… inflation rate, exchange rate, and all that goes with it, it has been reasonably good,” he stated.
“We expect there will be indications that the second half of the year will see further improvement…
“and also see areas that will spark growth in industries and in businesses so that we can create the jobs that people need.”
He noted that due to Ghana’s current agreement with the International Monetary Fund (IMF), any decisions must align with the fund’s conditions.
“So we are not expecting a major policy shift,” he added.
Mr. Akwaboah emphasised that the AGI wants to hear indicators that show further improvement in macroeconomic stability.
“If we have such stability, companies can expand, can plan ahead, and do business,” he said.
According to Bank of Ghana data, headline inflation dropped from 23.8% at the end of 2024 to 13.7% in June 2025.
Ghana’s economy also showed strong performance, with GDP growth at 5.3% in Q1 2025 and non-oil GDP at 6.8%, supported by growth in agriculture and services.
Ghana’s external position has also improved, recording a provisional trade surplus of US$5.6 billion and a current account surplus of US$3.4 billion in the first half of 2025.
Gross international reserves increased to US$11.1 billion, equivalent to 4.8 months of import cover.
Today’s budget review is expected to outline how the government intends to sustain this progress while continuing fiscal discipline under the IMF programme.