Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has presented the 2026 Budget to Parliament, themed “Resetting for Growth, Jobs, and Economic Transformation”. The budget aims to consolidate macroeconomic stability, accelerate economic transformation, and create jobs.
Key Highlights:
– Fiscal Deficit: Targeted to narrow from 2.8% of GDP in 2025 to 2% in 2026
– Total Appropriation: GH¢357.1 billion for fiscal year 2026
– Expenditure: Projected at GH¢302.5 billion, representing 18.9% of GDP
– Revenue Mobilization: Focus on expanding tax net and improving efficiency
– Infrastructure Development: $2.8 billion allocated for road development, including regional and cross-border connectivity.
Priorities:
– Consolidating Macroeconomic Stability: Maintain single-digit inflation and ensure exchange rate stability
– Accelerating Economic Transformation: Invest in energy, agriculture, and infrastructure to drive job creation
– Strengthening Social Services: Improve healthcare, education, and social protection
Reforms:
– VAT Regime: Harmonized with reduced effective rate and increased registration threshold
– COVID-19 Levy: Scrapped
– Energy Sector: Focus on reforms and investments in commercially viable projects
The budget is expected to receive a positive market response, with Ghana’s economy poised for sustained growth and transformation.