The Ministry of Finance has announced that Ghana recorded a significant fiscal turnaround in 2025, describing the year as one of the most remarkable periods of economic recovery in the country’s history.

The details were contained in a press statement issued in Accra on Monday, February 23, 2026.

According to the statement, the overall fiscal deficit on a commitment basis narrowed to 1.0 per cent of GDP in 2025, outperforming the 2.8 per cent target.

The primary balance also recorded a surplus of 2.6 per cent of GDP, exceeding the projected 1.5 per cent surplus. On a cash basis, the fiscal deficit stood at 3.1 per cent of GDP, better than the target of 3.8 per cent.

The Ministry attributed the improved fiscal performance to strict expenditure controls, enhanced domestic revenue mobilisation, and sustained structural reforms, supported by prudent monetary policy measures.

It noted that these interventions have helped restore macroeconomic stability and put public finances back on a sustainable trajectory.

A major highlight of the statement was the reduction in public debt. Ghana’s total public debt declined by GH¢82.1 billion, from GH¢726.7 billion (61.8 per cent of GDP) in December 2024 to GH¢641.0 billion (45.3 per cent of GDP) in December 2025, representing one of the sharpest declines recorded in recent years.

The Ministry reaffirmed the Government’s commitment under President John Dramani Mahama to sustain the gains, maintain fiscal discipline, and create the conditions necessary for job creation and long-term economic transformation.