Ghana On Track To Achieve 1.5% Primary Surplus – Finance Minister to Investors
Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has assured international investors and development partners that the country is making significant fiscal progress and remains on course to achieve a 1.5% primary surplus by the end of 2025.
Speaking during high-level engagements with investors and Ghana’s development partners at the ongoing IMF/World Bank Spring Meetings in Washington, D.C., Dr. Forson said the government’s fiscal consolidation efforts are yielding results, with the Ghana Revenue Authority (GRA) exceeding first-quarter revenue targets by over GH¢2.4 billion.
“This strong revenue performance reflects enhanced compliance and efficiency measures, while our disciplined spending approach—such as maintaining allocations for goods and services at 2023 levels—is helping to keep us firmly within our fiscal framework,” he noted.
According to him, the government’s overall macroeconomic indicators are trending in the right direction, reinforcing investor confidence in Ghana’s recovery programme. “We are exactly where we need to be. All indicators are pointing the right way, but we are not complacent. We remain vigilant and committed to sustaining this momentum,” he told the international audience.
Dr. Forson further assured investors that the Bank of Ghana holds sufficient external reserves to meet coupon and interest payments as they fall due, ensuring continued confidence in the domestic financial market.
He also highlighted that the upcoming Mid-Year Budget Review will detail the government’s debt management strategy—geared towards supporting growth, enhancing debt sustainability, and deepening investor trust.
The Finance Minister had earlier briefed stakeholders on the cedi’s recent appreciation and Ghana’s current reserve position, which now covers over four months of import needs. He pointed to the anticipated operationalisation of the Ghana Goldbod as another measure expected to strengthen currency stability and boost foreign exchange reserves.
“These gains reflect prudent economic management and the resilience of the Ghanaian economy,” Dr. Forson said, underscoring the government’s commitment to macroeconomic stability and long-term sustainability.
