Editorial: Economic recovery in place, so the 2026 budget focuses on growth

In a related development – during a stakeholder engagement session in Accra as part of preparations for the 2026 national budget recently – Deputy Minister of Finance Thomas Nyarko Ampem observed that Ghana’s economy is firmly on the path to recovery, supported by strong fiscal performance, lower inflation and renewed investor confidence.

Primary balance recorded a surplus of 1.4 percent of GDP and the fiscal deficit narrowed to 1.5 percent, while “public debt has fallen to 46.8 percent of GDP as of August 2025,” he added.

Real GDP grew by 6.3 percent in third-quarter 2025, while inflation dropped to 9.4 percent in September from 23.7 percent earlier in the year. He emphasised that Treasury bill rates have also eased, reflecting growing investor confidence.

Consequently, the 2026 budget will focus on stabilisation, infrastructure, education, youth empowerment and job creation to build on the progress made so far, the deputy Finance Minister noted.

For instance, government allocated GH?13.8billion to road infrastructure in the 2025 budget and will more than double that amount in 2026 to accelerate the “big push” on roads. To this end, more than 60 road projects including bridges and major highways have already started.

The minister admitted that government inherited significant arrears but explained payments are being made after strict audits. He added that payroll audits uncovered over 53,000 ghost names and GH?150million in unearned salaries, while GH?8.1billion of invalid arrears claims were rejected.

Also, social protection remains a priority and government has hence uncapped the National Health Insurance Scheme and released over GH?4billion for health financing.

Additionally, government has distributed over 6.6 million packs of sanitary pads to girls in public basic schools and paid GH?300million to cover first-year fees for more than 100,000 tertiary students under the ‘No Fee Stress’ initiative.

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