IMF says Ghana’s 2027 Budget is built on strong foundations

The International Monetary Fund (IMF) has described Ghana’s 2027 Budget as being built on strong foundations, saying its fiscal targets are consistent with the country’s Policy Coordination Instrument (PCI) programme.

According to the IMF mission team that reviewed Ghana’s first PCI programme, the budget targets a primary surplus of 0.5% of Gross Domestic Product (GDP) on a commitment basis, supported by revenue measures approved by Parliament in July 2026.

It said the fiscal space created would be used to support investment in priorities under the New Economy, including creating jobs and investment opportunities and closing the infrastructure gap.

“Rigorous project appraisal, competitive procurement, and strict expenditure controls will be critical to ensure value for money and preserve debt sustainability,” it advised.

Building on strong revenue collections in 2026, the Fund said non-oil revenue was projected to increase further in 2027. This would be supported by the tax measures announced in July 2026, a review of customs and excise legislation, and gains from revenue administration reforms, including the Integrated Tax Administration System and electronic fiscal devices.

The IMF staff team, led by Ruben Atoyan, visited Accra from October 22 to November 4, 2026, for discussions on the first review of Ghana’s 36-month programme supported by the PCI.

The Fund reaffirmed its commitment to supporting Ghana’s efforts to preserve economic stability and achieve stronger, more inclusive and job-rich growth.

The 2027 Budget is expected to be presented to Parliament this month.