2027 Budget should protect fiscal credibility, direct scarce public resources towards productive capacity – KPMG Boss

The Country Managing Partner of KPMG, Andy Akoto, wants the 2027 Budget to protect fiscal credibility while directing scarce public and private resources towards productive capacity, jobs and infrastructure that can be implemented and maintained.

Highlighting his expectations of the 2027 Budget, Mr. Akoto said Ghana enters the 2027 budget cycle from a stronger macroeconomic position, with growth remaining firm and inflation materially lower.

“It is encouraging that the government continues to maintain economic stability. Real GDP [Gross Domestic Product] grew by 6.2% in the first half of 2026, with full-year growth projected at 5.7%, while inflation stood at 5.5% in October. The staff-level agreement on the first review under the IMF’s Policy Coordination Instrument provides a further basis for policy continuity. Reserve rebuilding, domestic revenue mobilisation and reform remain important to sustaining these gains”, he explained.

According to him, businesses still have to manage credit risk, utility reliability, tax administration, working-capital pressures and uneven purchasing power.

Against this background, KPMG and the United Nations Development Programme (UNDP) undertook the 2027 Pre-Budget Survey to assess business conditions and obtain views on priorities for the national budget. Our survey and focus group study bring together businesses' perspectives on measures that can support investment, employment, and improved livelihoods.

The report also considers how these priorities relate to Ghana’s development objectives and the practical requirements for implementation.

About 70% of respondents expressed confidence in their organisation’s growth in 2027. However, less than half indicated improved operating-cost conditions.

“Our focus group study also highlighted continued pressure from electricity, rent and limited purchasing power. Some businesses have benefited from more favourable conditions, while others continue to face difficulties in selling their products and financing day-to-day operations”, Mr. Akoto stated.

According to him, the budget should therefore support productive activity and improve the conditions under which firms invest and reach customers.

He also said access to affordable finance remains a prominent priority, stating that respondents called for low-interest loans and credit guarantees, whilst its focus group study identified collateral requirements, short repayment period, loan processing charges and limited awareness of support programmes as practical barriers to obtaining and using finance.

As Ghana prepares the 2027 Budget, Mr. Akoto also pointed out that the proposed US$10 billion New Economy programme offers an opportunity to convert stability into productive transformation.

“Its implementation should be coordinated with Big Push and other initiatives through a transparent, proritised investment pipeline. The Budget should clarify additional revenue requirements, financing sources and overlapping commitments, while leveraging shared infrastructure and sequencing complementary projects”, he alluded.

He concluded that KPMG remains committed to contributing its expertise to help the government and businesses translate these priorities into sustainable practical outcomes.