Joe Jackson is a renowned economist
Renowned economist and Chief Executive Officer of Dalex Finance, Joe Jackson, has described Ghana’s economic performance in the first half of 2026 as positive, citing improved stability in key macroeconomic indicators.
According to him, declining inflation, lower interest rates and relative stability in the exchange rate have created a more predictable environment for businesses and consumers.
“The first half of the year has been quite good. If you look at the level of stability, we have enjoyed the inflation that has been kept low, such that when you go to town you are not scared that the price will be that much than it was before.
"We go with the expectation that it will remain low, the low interests rate such that you can borrow at 15 percent and less the stability in the exchange rate even though in the last few weeks, there have been some level of volatility but it has been relatively stable, as business we thrive on stability and so long as business thrive on stability, we will classify it as good", he stated in an interview on TV3's Ghana Tonight on July 22, 2026.
He noted that the predictability of economic indicators had strengthened the resilience of the economy and provided a foundation for sustainable growth.
“Stability is the prerequisite for growth, proper growth, robust and resilient growth...... It is stability that delivers growth; that is what is needed for private sector investment,” he added.
The economist however, said the true measure of the economy’s performance would be whether the current stability translates into increased private sector activity and job creation.
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“The budget will be measured by one thing. Will it let the private sector invest more, add more value, create more jobs? If the answer is no, the budget is yes, the budget is good, if it is no, the budget has retrogressed", he added.
His comments come ahead of the presentation of the 2026 Mid-Year Budget Review by Finance Minister Dr Cassiel Ato Forson in Parliament on July 23, 2027.
The review is expected to assess the economy’s performance against the targets outlined in the 2026 Budget, which sought to move Ghana from macroeconomic stabilisation towards sustained economic growth while maintaining fiscal discipline.
Since the budget was presented in November 2025, key economic indicators have recorded stronger-than-expected outcomes, with inflation declining to 5.3 per cent, alongside improvements in fiscal consolidation, the external sector and debt sustainability.
The 2026 Mid-Year Budget Review is also expected to provide updates on Ghana’s transition from the International Monetary Fund’s Extended Credit Facility programme to the Policy Coordination Instrument (PCI), which is expected to guide economic reforms after the current IMF programme ends.
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