The new world economy

Government will amend the Public Financial Management (Amendment) Act, 2025 (Act 1136) to reduce the statutory primary balance floor from 1.5 percent of Gross Domestic Product (GDP) to 0.5 percent from 2027, Finance Minister Dr. Cassiel Ato Forson told parliament yesterday in the 2026 Mid-Year Fiscal Policy Review.

The Bank of Ghana (BoG) kept its benchmark monetary policy rate unchanged at 14 percent, signalling confidence that inflation will remain within its medium-term target despite mounting risks from geopolitical tensions, higher energy costs and potential utility tariff adjustments.

Today’s mid-year budget review is the government’s chance to show its promised reset can hold without a safety net beneath it, the Head of Research, Analytics and Strategy at First National Bank, Julien Ayippey, has said.

Credit to the private sector expanded 41.2 percent year-on-year in June 2026 to GH¢119.6billion, one of the fastest paces on record, according to data published by the Bank of Ghana (BoG).

The country has secured more than US$3.5billion of fresh investment commitments from partners in its flagship Jubilee and Offshore Cape Three Points (OCTP) oil fields as government moves to reverse years of declining crude production and restore confidence in the upstream petroleum sector, Finance Minister Dr. Cassiel Ato Forson has said.

The Association of Ghana Industries (AGI) has called for a renewed national commitment to strategic industrialisation.

MTN Ghana has identified fibre broadband connectivity as a critical infrastructure for accelerating Ghana’s digital transformation, as the telecom operator seeks to expand home internet adoption across the country.

Africa has mobilised approximately US$110 million from domestic sources to support responses to Ebola and other disease outbreaks, marking a significant step towards strengthening the continent's health security and reducing dependence on external funding.