2027 Budget to set out inflation and growth outlook – Theo Acheampong

Economist and political risk specialist Dr Theo Acheampong says the 2027 Budget will outline the government’s expectations for inflation, economic growth and fiscal balances.

Speaking on Joy News’ PM Express on Monday, he said the budget, due to be presented the following week, would contain a medium-term fiscal framework setting out those projections.

His comments followed a question about whether the government could guarantee price stability in 2027 and 2028.

Dr Acheampong said the forthcoming budget would spell out the government’s outlook. He said its framework would cover growth, inflation, the size of the economy and fiscal balances.

He also referred to earlier budget projections, which he said placed inflation below 10 per cent over the next three to four years.

“The forward projection for prices going forward into the next three to four years in the media budget is all within the sub-10 %.”

He invited checks against the earlier budget documents, including the 2025 budget.

His response centred on the inflation outlook and what it could mean for workers’ purchasing power. He linked the benefit of wage increases to whether inflation remained in single digits.

“So basically, you're still in a single-digit inflation environment, and to the extent that that still stays, and you can still offer workers 9%, you can still offer them 10%. They are still going to be, on average, better”

Dr Acheampong’s assessment was conditional on that inflation environment holding. He did not explicitly guarantee price stability for the two years raised by the host.

The 2027 budget’s medium-term framework will therefore provide the next indication of the government’s inflation and growth expectations.