Finance Minister Dr Cassiel Ato Forson has attributed Ghana's improving economic performance to what he described as "superior economic management", insisting that the country's recovery is the result of deliberate policy decisions rather than external support.

Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, Dr Forson said the Mahama administration acted quickly after assuming office in January 2025 to stabilise the economy and lay the foundation for long-term growth.

According to him, the government inherited an economy that required more than minor adjustments.

"When this administration assumed office, it moved swiftly and decisively to stabilise the economy and begin the work of national reconstruction," he said.

"It was immediately clear that the old model of managing the economy had failed and Ghana did not need incremental adjustment, but it needed structural reforms."

The Finance Minister said the government implemented several tough measures despite the political cost, arguing that they were essential to restore confidence in the economy.

"We therefore took difficult but necessary decisions which were neither politically convenient nor painless," he said.

"These decisions demanded our collective sacrifice, but they were necessary to restore stability and rebuild confidence."

Dr Forson rejected suggestions that Ghana's recent macroeconomic improvements were simply the result of favourable circumstances or programmes initiated before the current administration took office.

He said that while debt restructuring and the International Monetary Fund (IMF) programme provided important support, they were not solely responsible for the country's recovery.

"Some have suggested that our recent macroeconomic gains are simply the product of good fortune. Others have attributed the recovery solely to the debt restructuring programme or the IMF programme inherited in 2025. But, Mr Speaker, I firmly disagree."

The Finance Minister said that government policies and implementation had been the decisive factors behind the economic turnaround.

"Our recovery is as a result of superior economic management."

"For emphasis, I firmly disagree. Ghana's recovery is as a result of superior economic management," he said.

According to the Minister, debt restructuring alone cannot guarantee economic stability.

"Debt restructuring may create fiscal space, but it does not create fiscal discipline," he said.

He also argued that an IMF-supported programme provides only a framework for reforms and cannot replace effective governance.

"An IMF programme may provide a framework, but it cannot substitute for sound policy implementation and political will."

The Finance Minister said sustainable economic recovery depends on sound economic decisions, effective implementation and strong political leadership.

"Sustainable economic recovery is built on good policy choices, competent economic management and disciplined execution, and most importantly, courageous leadership."

He said that the country's improving economic indicators reflect the reforms introduced since President John Dramani Mahama assumed office in January 2025.

"The evidence before us is overwhelming. Ghana's recovery has been driven by a deliberate programme of economic reforms implemented since President Mahama assumed office in January 2025."