71% want jobs and youth employment prioritised in 2027 Budget – KPMG/UNDP survey

A recent survey conducted by KPMG and the United Nations Development Programme (UNDP) reveals that 71% of respondents prioritize job creation and youth employment in Ghana's 2027 Budget. The findings highlight jobs and youth unemployment as a top national priority, while the cost of living was identified as another major concern by 54% of those surveyed.

The comprehensive survey, encompassing citizen responses, business insights, and focus group discussions, sheds light on expectations for the 2027 Budget and the economic challenges faced by households and enterprises in Ghana.

Regarding taxation, an overwhelming 90% of respondents expressed a desire for the government to communicate any changes at least four months in advance, allowing businesses ample time to plan. Tax concerns extend beyond statutory rates, encompassing complex filing processes, payments to multiple authorities, and short-notice changes, which respondents deemed significant impediments. The report emphasizes the need for addressing these tax-related issues to facilitate a conducive environment for businesses.

Encouraging informal businesses to transition to the formal economy emerged as a key preference, with increased education and awareness ranking as the leading approach, followed by incentives for formalization and aligning licensing processes with tax registration. While respondents expressed optimism about businesses, they also identified ongoing constraints related to accessing suitable financing, reliable utilities, and market demand.

The survey findings indicate a conditional interest in the government's 24-Hour Economy program, with businesses highlighting job creation, youth employment, and cash-flow challenges as important concerns. KPMG and UNDP, drawing on the survey and focus group findings, have identified four key priority areas for consideration in the 2027 Budget.

These areas include enabling enterprise growth through affordable financing and predictable taxation, translating the 24-Hour Economy program and New Economy agenda into productive investments, improving the value of public investments, and strengthening financial discipline through effective coordination via the Value for Money Office.

Additionally, safeguarding natural resources and accelerating green investment were recommended as priorities to inform discussions on the 2027 Budget, with an emphasis on feasible investment, effective implementation, and measurable outcomes for businesses and communities.