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.
KPMG's Country Managing Partner, Andy Akoto, has urged the government to prioritize fiscal credibility and allocate scarce resources towards productive capacity in the 2027 Budget. Ghana enters the budget cycle in a stronger macroeconomic position, with solid growth and lower inflation. Real GDP grew by 6.2% in the first half of 2026, with a projected full-year growth of 5.7%, while inflation was 5.5% in October.
Mr. Akoto emphasized that businesses still face challenges such as credit risk, utility reliability, tax administration, and uneven purchasing power. With this in mind, KPMG and the United Nations Development Programme (UNDP) conducted the 2027 Pre-Budget Survey to gather business perspectives on budget priorities.
Approximately 70% of the surveyed businesses expressed confidence in their growth for 2027, although less than half reported improved operating conditions. The focus group study revealed ongoing pressure from electricity, rent, and limited purchasing power. While some businesses have benefited from more favorable conditions, others continue to struggle with selling their products and financing day-to-day operations.
Mr. Akoto stressed that the budget should foster productive activity and enhance conditions for firms to invest and reach customers. He also highlighted that access to affordable finance remains a top priority, with respondents calling for low-interest loans and credit guarantees. The focus group study identified collateral requirements, short repayment periods, loan processing charges, and limited awareness of support programs as practical barriers to obtaining and utilizing finance.
Ghana's New Economy program, which proposes a US$10 billion investment, presents an opportunity to transform the country's stability into productive growth. Mr. Akoto proposed that the budget should coordinate the implementation of this program with Big Push and other initiatives through a transparent, prioritized investment pipeline. The budget should also clarify additional revenue requirements, financing sources, and overlapping commitments while leveraging shared infrastructure and sequencing complementary projects.
KPMG remains committed to working with the government and businesses to translate these priorities into sustainable and practical outcomes.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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