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

The International Monetary Fund (IMF) has praised Ghana's 2027 Budget, stating it is built on a solid foundation. According to the IMF mission team that evaluated Ghana's first Policy Coordination Instrument (PCI) programme, the budget aims for a primary surplus equal to 0.5% of Gross Domestic Product (GDP) on a commitment basis.

This target is supported by revenue measures that were approved by Parliament in July 2026. The IMF believes the fiscal space created by this budget will be utilized to invest in key areas outlined in the New Economy, such as job creation and infrastructure development. The team emphasized that rigorous project appraisal, competitive procurement, and strict expenditure controls are essential to ensure value for money and maintain debt sustainability.

The IMF noted that Ghana's non-oil revenue is expected to rise further in 2027 due to the tax measures announced in July 2026, legislative reviews, and gains from revenue administration reforms like the Integrated Tax Administration System and electronic fiscal devices. The IMF team, headed by Ruben Atoyan, spent time in Accra from October 22 to November 4, 2026, where they had discussions about the first review of Ghana's 36-month programme supported by the PCI.

The IMF has reiterated its commitment to helping Ghana maintain economic stability and achieve stronger, more inclusive, and job-rich growth. The 2027 Budget is anticipated to be presented to Parliament this month.