Dr. Ato Forson to present new economic strategy in 2026 Mid-Year Budget
via GhanaWeb5 min read
Finance Minister Dr. Cassiel Ato Forson is scheduled to unveil the government's New Economic Policy during the 2026 Mid-Year Budget Review to Parliament on Thursday, July 23, 2026. This policy is anticipated to mark a shift from economic stabilization to a long-term growth agenda, aiming to consolidate macroeconomic gains. The framework will build on fiscal reforms and economic recovery measures from the Mahama administration, outlining a roadmap for sustainable economic transformation. Key pillars of the new policy include job creation, increased productivity, economic resilience, and inclusive growth. Dr. Forson is also expected to update Parliament on Ghana's successful completion of the International Monetary Fund's Extended Credit Facility program and its transition to the Policy Coordination Instrument. The Minister will outline measures for maintaining fiscal discipline, assess the country's economic performance over the past year, and provide an update on Ghana's external debt restructuring program. He will also present revenue performance for the first half of 2026 and detail public expenditure management plans. The Mid-Year Budget Review, presented in accordance with Section 28 of the Public Financial Management Act, 2016 Act 921, will also highlight initiatives to stimulate economic activity, strengthen investor confidence, and sustain prudent fiscal management. Adjustments to the 2026 Budget may also be proposed to reflect current economic conditions and fiscal pr
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by GhanaWeb.
Must ReadBernard Antwi Boasiako, also known as Chairman Wontumi, the Ashanti Regional Chairman of the New Patriotic Party NPP, has been sentenced to 20 years imprisonment with hard labor. This follows his conviction on all six counts related to alleged illegal mining activities. Chairman Wontumi, along with Akonta Mining Company Limited and Kwame Antwi, faced trial over their involvement in mining operations on the company's concession at Samreboi in the Western Region. The Criminal Court 4 Division of the High Court, presided over by Justice Audrey Kocuvie-Tay, delivered the judgment on July 20, 2026. The prosecution accused the defendants of unlawfully assigning mineral rights and facilitating mining activities without the necessary approvals, violating the Minerals and Mining Act. A video shows Chairman Wontumi being escorted into a prison vehicle after his sentencing.
The New Patriotic Party NPP has accused the Mahama administration of attempting to use the conviction of its Ashanti Regional Chairman, Bernard Antwi-Boasiako, also known as Chairman Wontumi, as a political "trophy." In a statement dated July 20, 2026, the NPP argued that Wontumi's conviction should not be celebrated as proof of the government's commitment to fighting illegal mining, claiming that similar allegations involving individuals linked to the governing National Democratic Congress NDC have not received the same attention. The party alleged selective application of justice, questioning why investigations into illegal mining activities involving some NDC officials have not progressed with similar urgency. The NPP stated that the prosecution failed to provide evidence that Wontumi unlawfully assigned or transferred his mineral concession, asserting that the conviction was based on assumptions rather than proof beyond a reasonable doubt. Describing the judgment as a "travesty of justice," the NPP announced that its legal team had begun the process of appealing the High Court鈥檚 decision and reaffirmed its support for Chairman Wontumi, maintaining he was wrongfully convicted and calling him a "political prisoner."
The government has unveiled the Teacher Dabre Initiative, a plan to construct 50,000 housing units nationwide to alleviate accommodation challenges for teachers, particularly those in rural areas. Minister of Education, Haruna Iddrisu, announced this on July 20, 2026, during the Government Accountability Series. The program will be implemented through a decentralized approach, with the District Assemblies Common Fund leading efforts at regional and district levels. The Ministry of Education will secure additional funding, and the government is considering using pension fund resources under the Ghana Secondary School Pension GSOP as collateral. In addition to housing, the government is finalizing a financial incentive, a 20% allowance, for teachers who accept postings to rural and hard-to-reach areas. These initiatives aim to enhance teachers' working and living conditions and address the challenge of attracting and retaining qualified educators in rural communities, reinforcing the government's commitment to teacher welfare for improved education quality.