Deputy Minister of Finance, Thomas Nyarko Ampem, has credited Ghana’s ongoing economic recovery to the unwavering support President John Dramani Mahama has provided to Finance Minister Dr Cassiel Ato Forson, describing the President’s backing as a critical factor behind the government’s recent economic gains.
Mr Nyarko Ampem said the Finance Minister’s ability to implement difficult but necessary economic reforms has been strengthened by a President who understands the economy and is committed to leaving behind a positive legacy.
According to him, although Dr Forson is a disciplined and independent-minded minister, his work has been made more effective because of the confidence and support he enjoys from President Mahama.
“Ato Forson is a disciplined man and cannot be pushed around, but he has a disciplined president who understands the economy. We are achieving this because we have the backbone of the president; he wants to leave a good legacy,” he stated.
Mr Nyarko Ampem also highlighted the government’s fiscal strategy, saying the Mahama administration has deliberately prioritised cutting wasteful expenditure while improving domestic revenue mobilisation instead of imposing new taxes on Ghanaians.
“We have deliberately decided to cut waste; we cannot spend what we don’t have. Let us aggressively pursue revenue without introducing new taxes,” he said, adding that the government is also committed to avoiding excessive borrowing.
The Deputy Finance Minister further defended Dr Forson’s decision to compare the current state of the economy with conditions inherited from the previous New Patriotic Party (NPP) administration during the presentation of the 2026 Mid-Year Budget Review.
He argued that understanding the country’s previous economic challenges is necessary for Ghanaians to appreciate the progress made by the current administration.
“For you to appreciate where we are, it is critical that you appreciate where we came from. It was to put everything in context for everybody to appreciate the achievements. It was basically a good appreciation of the trajectory of the path this economy has travelled,” he explained.
During the presentation of the 2026 Mid-Year Budget to Parliament on Thursday, July 23, Finance Minister Dr Cassiel Ato Forson outlined what he described as clear signs of economic recovery, citing declining inflation, a relatively stable cedi and improved business confidence.
He said the benefits of the recovery were beginning to reach businesses, traders and workers across the country.
“To every trader, every entrepreneur, every worker who has persevered through difficult times, this recovery belongs to you,” Dr Forson told Parliament.
The Finance Minister attributed the improvements in key macroeconomic indicators to what he described as prudent fiscal management and disciplined economic policies implemented by the Mahama administration.
