2027 Budget should protect fiscal credibility, direct scarce public resources towards productive capacity – KPMG Boss
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.
Andy Akoto, Country Managing Partner at KPMG, emphasizes that the 2027 Budget should safeguard fiscal credibility while allocating scarce resources towards productive capacity, job creation and infrastructure. He notes that Ghana is entering the 2027 budget cycle in a stronger macroeconomic position, with growth remaining robust and inflation significantly lower.
Real GDP grew by 6.2% in the first half of 2026, with full-year growth expected at 5.7%, while inflation stood at 5.5% in October. The IMF's Policy Coordination Instrument agreement provides further policy continuity.
Despite this positive economic outlook, businesses still face challenges such as credit risk, utility reliability, tax administration, working-capital pressures and uneven purchasing power. KPMG, in collaboration with the United Nations Development Programme (UNDP), conducted the 2027 Pre-Budget Survey to gauge business conditions and gather input on budgetary priorities.
The survey revealed that 70% of respondents are confident in their organization's growth in 2027, although less than half expect improved operating-cost conditions.
Mr. Akoto stresses that the budget should foster productive activity and enhance conditions for businesses to invest and reach customers. He highlights that access to affordable finance remains a top priority, with respondents calling for low-interest loans and credit guarantees. However, practical barriers to obtaining and utilizing finance include collateral requirements, short repayment periods, loan processing charges and limited awareness of support programmes.
In light of Ghana's proposed US$10 billion New Economy programme, Akoto suggests that the budget should clarify additional revenue requirements, financing sources and overlapping commitments. The budget should also leverage shared infrastructure and sequence complementary projects. KPMG remains committed to aiding the government and businesses in translating these priorities into sustainable and practical outcomes.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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