Ghana records 1.24% primary surplus from January to October 2026 – Ato Forson
By Ashiadey Dotse Finance Minister Dr Cassiel Ato Forson says Ghana recorded a primary surplus of 1.24% of Gross Domestic Product (GDP) between January and October 2026. He said the performance put government on course to achieve its full-year primary surplus target of 1.25% of GDP. Presenting the 2027 Budget Statement and Economic Policy to […]
Ghana's Finance Minister Dr Cassiel Ato Forson reported that the country recorded a primary surplus of 1.24% of its Gross Domestic Product (GDP) from January to October 2026. This performance indicates that the government is on track to achieve its target of a 1.25% primary surplus for the entire year. During a presentation of the 2027 Budget Statement and Economic Policy to Parliament on November 12, 2026, Forson disclosed that the overall fiscal deficit on a cash basis was 2.3% of GDP, which is below the targeted 4.5%.
He credited this fiscal achievement to improved revenue collection, particularly from taxes. Revenue and grants for the first ten months of the year totaled GH¢219.3 billion, which represents 13.79% of GDP. Government expenditure on a commitment basis was GH¢239 billion, which is 7.7% below the target. Forson also revealed that interest payments as a percentage of domestic revenue have decreased from 25.6% to 17.8%.
This reduction has provided the government with more resources to fund development projects and deliver essential public services. He added that the government has fulfilled its obligations to statutory funds by paying all amounts due in full and on time. As of October 2026, Ghana's provisional public debt stood at GH¢759.2 billion, which is equivalent to 47.5% of GDP.
Domestic debt accounts for 56.4% of the total, while the remaining portion is sourced externally. Forson explained that the government's debt management strategy focuses on minimizing exposure to foreign currency fluctuations and limiting the impact of exchange rate changes on the nation's debt. The Finance Minister also mentioned that the government has continued to meet its commitments to both domestic and external bondholders.
He revealed that payments to Domestic Debt Exchange Programme (DDEP) bondholders since 2025 amounted to GH¢41.6 billion. The Sinking Fund account held GH¢29 billion as of November 11, 2026, which is sufficient to cover the principal and interest payments due in February 2027. Forson emphasized that the government will continue to maintain fiscal discipline and safeguard the progress made in stabilizing the economy.
Written by urgent.news from GBC Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
