Finance Minister Dr. Cassiel Ato Forson presented Ghana’s 2026 Budget Statement and Economic Policy to Parliament on Thursday, November 13, 2025.
The budget’s main theme is “Resetting for Growth, Jobs and Economic Transformation.”
Dr. Ato Forson, a trained accountant with more than 20 years of experience, laid out clear goals:
1.Keep a primary surplus of 1.5% of GDP (on a commitment basis).
2.Lower the country’s debt risks.
3.Free up money to build roads, create jobs, and support social programs.
The plan aims to put Ghana back on a strong growth path while helping people with work and safety nets.
The theme—”Resetting for Growth, Jobs and Economic Transformation”—captures the government’s push to rebuild after tough economic times, including high inflation and debt challenges from recent years.
Dr. Forson, a chartered accountant with over 20 years of experience (including stints in auditing and public finance), emphasized practical steps to make the economy work for everyday Ghanaians.
Before the presentation, he toured places like Takoradi Market and oil palm farms to hear directly from traders, workers, and farmers about their needs.
Core Goals: Keeping Things Balanced While Building Ahead
At its heart, the budget sticks to three big targets:
Primary Surplus of 1.5% of GDP: This means the government will spend less than it earns (excluding debt interest payments) by that amount. It’s on a “commitment basis,” which tracks promises made, not just cash spent right away. The goal? Avoid borrowing more and build trust with lenders.
Reducing Debt Risks: Ghana’s debt hit over 90% of GDP recently, so the plan cuts vulnerabilities by restructuring loans, boosting local revenue, and easing out of the IMF program (set to end in May 2026). No wild spending here—it’s about smart management to free up cash later.
Creating Space for Investments: By tightening the belt on waste, the budget carves out funds for real priorities: fixing roads and power grids (infrastructure), starting training programs and small business loans (jobs), and expanding help like free school meals or health subsidies (social protection). Expect a focus on youth employment, as unemployment hovers around 13-15%.
In simple terms, it’s like a family budget: Pay off credit card debt first, then save for the kids’ education and a home fix-up. Analysts say this approach keeps inflation down (target: under 10%) and growth up (aiming for 5-6% GDP rise), but it won’t happen overnight.
What’s Inside: Key Sectors and Policies
Dr. Forson highlighted investments in high-impact areas to spark jobs and productivity:
Jobs and Youth Focus: Over 200,000 new jobs targeted through programs in agriculture (like better seeds for small farmers), manufacturing (factory incentives), and tech/digital skills training. This ties into the “24-hour economy” idea—night shifts in factories and markets to double work hours without burning out.
Infrastructure Boost: Money for roads, ports, and renewable energy to cut business costs. For example, upgrading the Tema Port could save importers millions and create logistics jobs.
Social Safety Nets: More funding for LEAP cash transfers to poor families, free senior high school tweaks, and health insurance expansions. No big tax hikes promised—relief on import duties for essentials like food and medicine to ease living costs.
Green and Innovation Push: Support for clean energy (solar farms) and digital startups, aligning with global climate goals while cutting fuel import bills.
The budget also updates on IMF progress: Ghana’s on track to finish the $3 billion bailout strong, with better reserves (over $10 billion projected) and a smaller fiscal deficit (under 4% of GDP).
What Ghanaians Want—and What to Watch
Public buzz is high. Traders hope for lower port fees to drop prices on goods like rice and clothes.
Drivers want fuel subsidies back, and young people are eyeing job schemes. Critics, though, worry if the surplus goal is too tight—could it mean cuts to teacher salaries or road projects?
With elections looming in 2028, this budget tests if the government can deliver quick wins without derailing recovery.
