Finance Minister Dr Cassiel Ato Forson outlining an ambitious GH¢280 billion domestic revenue target, a 25% increase over the previous year’s projected outturn
Presenting the 2026 Budget Statement and Economic Policy to Parliament on Thursday, the minister stressed that the primary focus of the expenditure framework will be shifting resources from consumption to capital investment and job-creating sectors under the theme “Resetting for Growth, Jobs, and Economic Transformation”.
The revenue projections are anchored on enhanced tax compliance, digitisation of tax collection, and a major overhaul of the Value Added Tax (VAT) regime, rather than the introduction of new, burdensome taxes. “We are moving away from an era of penalising compliance to rewarding productive enterprise,” Dr Forson stated.
“Our target of GH¢280 billion is achievable, provided we streamline our tax exemptions, plug leakages, and ensure every eligible citizen and corporate entity contributes their fair share,” he added.
On the expenditure side, the minister announced a total planned spending of GH¢325 billion, resulting in a projected budget deficit of 4.5% of GDP, down from 5.3% in the 2025 revised estimates.
Crucially, the minister noted a significant increase in the allocation for the Ministries of Trade and Industry and Food and Agriculture.
Dr Forson detailed a major policy shift regarding capital expenditure.
“For too long, Ghana’s budget has been bloated by discretionary spending and non-essential consumption.
The 2026 budget reverses this trend by earmarking 40% of the total non-debt expenditure towards capital projects and seed funding for local manufacturing clusters,” he explained.
This commitment is expected to fuel domestic value addition and create high-quality jobs, aligning the national purse with the government’s growth agenda.
The minister reaffirmed that strict financial controls remain in place to prevent overruns and maintain the hard-won fiscal stability achieved under the IMF programme.
