Ghana’s 2027 budget projects a cash deficit of 3.6% of GDP

Friday 13th November 2026

By inAfrika Newsroom

Ghana’s government projects a cash deficit of 3.6% of gross domestic product in 2027 under the budget Finance Minister Cassiel Ato Forson presented to Parliament on 12 November. It projects a smaller deficit of 2.9% of GDP on a commitment basis, which counts obligations when they are incurred.

The budget statement projects a primary surplus of 0.5% of GDP on a commitment basis. The primary balance excludes interest. On a cash basis, which tracks money received and paid, it projects a primary deficit of 0.3% of GDP.

The written budget puts revenue and grants at GH¢323.1 billion, up from a projected GH¢274 billion in 2026. It puts expenditure on a commitment basis at GH¢375 billion. Interest payments are projected at GH¢61 billion, including GH¢51.5 billion on domestic debt.

The budget puts capital expenditure at GH¢98.4 billion, including GH¢30 billion for the New Economy programme. The programme’s four-year investment ambitions were outlined by President John Dramani Mahama before the budget. The GH¢30 billion figure is the written budget’s capital-spending provision for the programme in 2027.

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