Finance Minister Dr Cassiel Ato Forson has stated that nearly one million (1 million) Ghanaians have been lifted out of poverty since President John Dramani Mahama’s administration returned to office. He made the revelation while presenting the 2026 Mid-Year Fiscal Policy Review on Thursday, July 23.

According to him, multidimensional poverty declined from 24.9% in the third quarter of 2024 to 21.9% in the same period of 2025, reflecting a reduction in the number of people facing deprivation in areas such as education, health, employment and living conditions.

"This simply means that about 950,000 Ghanaians moved out of multidimensional poverty in just one year," he said. "Behind these statistics are the hundreds of thousands of families who now enjoy better living conditions and greater hope for the future."

Additionally, he noted that Ghana’s inflation has fallen sharply from 23.8% in December 2024 to 5.3% as of June 2026.

A Mid-Year Budget Review is presented as a comprehensive fiscal update, structured to give Parliament and the public a clear picture of how the economy and government finances are performing halfway through the year.

Typically, the Minister begins with a macroeconomic update, where he touches on GDP growth, inflation trends, exchange rate movements, foreign reserves, and debt sustainability. This sets the tone by showing whether the economy is on track with projections or facing new pressures.

The review then covers revenue performance, explaining how much has been collected in taxes, levies, and other sources compared to what was projected in the annual budget. Following this, the Minister presents an expenditure review, which breaks down how government funds have been spent so far.

It includes details on wages and salaries, interest payments on debt, capital projects, and social interventions such as Free SHS and the School Feeding Programme.

The Minister also provides a fiscal deficit outlook, assessing whether Ghana is on track to meet its deficit target or whether adjustments are needed. For instance, the Minister is expected to provide an update on Ghana’s recently concluded IMF Extended Credit Facility (ECF) programme and the country’s transition to the new Policy Coordination Instrument (PCI).

Following that are policy adjustments, where the government may revise expenditure ceilings, borrowing plans, or introduce new measures to stabilise the economy in response to emerging challenges.

Finally, the review highlights sectoral progress, providing updates on flagship programmes such as Free SHS, the 24-Hour Economy initiative, industrialisation efforts, and energy sector reforms. This demonstrates how government policies are translating into tangible outcomes across different sectors.

The review will provide a comprehensive assessment of the economy over the first six months of 2026, covering revenue mobilisation, expenditure, debt servicing, and the overall fiscal outlook. It is also expected to announce any adjustments to the 2026 Budget in response to prevailing economic conditions.