Focus on Stability, Not Aggressive Growth in 2026 — Financial Analyst Advises Government

Financial Analyst Toma Amihere has advised the government to prioritise deepening the country’s recent macroeconomic stability rather than rushing into an aggressive growth agenda in 2026. He warned that although indicators are improving, the economy remains too fragile for any rapid expansion drive.

His remarks follow the presentation of the 2026 Budget and Economic Statement by Finance Minister Dr. Cassiel Ato Forson, themed “Resetting for Growth, Jobs, and Economic Transformation.” The budget outlines the government’s intention to consolidate recent gains while shifting efforts toward productivity and job creation.

Speaking on Citi FM’s The Big Issue on Saturday, November 15, Amihere stressed that stability must remain at the centre of Ghana’s policy direction for the coming year.

“For 2026, government should focus on stabilising the stability — making the stability a fervency — and then for the next two years use it as a foundation for growth,” he said.

He noted that the government’s economic strategy mirrors the stabilisation-focused approach of the 2025 budget, a direction he believes is both strategic and appropriate.

“Just like the 2025 budget, I believe this government is focusing first on stability before growth. I see it as positive because that is exactly what the government should do,” Amihere added.

Single-Digit Inflation a Major Surprise

Amihere acknowledged that Ghana’s return to macroeconomic stability in 2025 has been far stronger than many analysts anticipated. According to him, the sharp decline in inflation—falling into single digits—surpassed expectations.

“If you had asked me even in March that inflation would reach a single digit this year, I would have said it was impossible. I said the 11.9% target could not be met — but it has been exceeded,” he admitted.

Economy Still Fragile

Despite the positive momentum, Amihere cautioned that the country’s economic environment remains delicate and must be approached with prudence.

“I see it as a good thing, but I still think it is rather fragile. And I am sure most people will agree with me that the economy is too fragile,” he warned.

He urged policymakers to avoid rushing into ambitious growth initiatives that could destabilise the recovery, stressing that Ghana needs to secure its gains before pursuing expansion.