Mid-Year Budget Review Set for July 24

Published on 12 July 2025 at 16:17

Mid-Year Budget Review Set for July 24 — Government to Present Economic Updates to Parliament

Ghana’s 2025 Mid-Year Budget Review will be presented to Parliament on Wednesday, July 24, Deputy Majority Leader George Kweku Ricketts-Hagan has confirmed.

Delivering the Business Statement in Parliament on Friday, July 11, Ricketts-Hagan noted that preparations for the mid-year review are underway, and the Speaker of Parliament is expected to finalize arrangements upon his return from abroad.

“The mid-year again will happen on the 24th of July… The committee on the selection issue has been engaging with it. He [the Speaker] is out of the jurisdiction, and so when he comes back, I’m sure he will get it sorted out,” he stated.

This statutory review, as required under Section 28 of the Public Financial Management Act, 2016 (Act 921), mandates the government to provide an update on the implementation of the national budget and outline the economic outlook at the halfway mark of the fiscal year.

The upcoming presentation will offer a detailed snapshot of Ghana’s economic and fiscal performance over the first six months of 2025. It will also outline any adjustments to policies, spending priorities, or revenue targets based on prevailing economic conditions.

Key topics expected to be addressed include:

Debt servicing progress
Government spending and revenue mobilization
Macroeconomic performance
Updates on inflation, growth, and foreign reserves

In a related development, the Bank of Ghana has announced the receipt of $367 million from the International Monetary Fund (IMF). This represents the fifth disbursement under Ghana’s ongoing $3 billion Extended Credit Facility (ECF) programme, aimed at stabilizing the economy and restoring investor confidence.

The funds, which hit the Bank of Ghana’s account on Tuesday, July 9, bring the total IMF disbursement so far to approximately $2.3 billion. The support follows the successful completion of Ghana’s fourth programme review by the IMF Executive Board.

The mid-year review is expected to not only provide transparency but also help guide investors, businesses, and citizens as Ghana continues on its path toward economic recovery and fiscal discipline.