Minister for Finance, Dr Cassiel Ato Forson, says President John Dramani Mahama inherited an economy in deep crisis when his administration assumed office in January 2025, blaming the situation on what he described as years of poor policy decisions, excessive borrowing and weak accountability.

Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 24, Dr Forson said the economic crisis that culminated in 2022 was not an isolated event but the result of a series of policy missteps.

He argued that the current administration inherited severe economic challenges and has since focused on restoring stability through prudent fiscal management and disciplined economic reforms.

“Mr Speaker, when this administration took office in January 2025, President Mahama inherited an economy on its knees. Mr Speaker, the economic crisis of 2022 was not merely an accident but a consequence of a series of wrong policy choices. Choices about reckless spending, choices of excessive borrowing and choices of weak accountability,” Dr Forson told Parliament.

The Finance Minister said the government remains committed to rebuilding the economy by maintaining fiscal discipline, strengthening macroeconomic stability and implementing reforms aimed at restoring investor confidence and delivering sustainable growth.