Finance Minister Dr. Cassiel Ato Forson has announced that total government spending for the 2026 fiscal year will amount to GH¢357.1 billion.
Presenting the 2026 Budget Statement and Economic Policy to Parliament on Thursday, November 13, he said total expenditure on a commitment basis is projected at GH¢302.5 billion, or 18.9% of GDP, a 20.1% increase over the 2025 projection of GH¢251.7 billion.
Dr. Forson explained that the 2026 budget strikes a balance between fiscal discipline and strategic investments in infrastructure, human capital, and social protection.
Primary expenditure, excluding interest payments, is expected to reach GH¢244.7 billion (15.3% of GDP).
Employee compensation, including wages, pensions, and social security, will amount to GH¢90.8 billion (5.7% of GDP), reflecting a 9% increase in base pay for public sector workers.
The government has allocated GH¢13.2 billion (0.8% of GDP) for goods and services to improve efficiency in public institutions, while GH¢63.6 billion (4% of GDP) will go to statutory transfers such as the GETFund, NHIF, and DACF.
Interest payments are projected at GH¢57.7 billion (3.6% of GDP) with GH¢50.1 billion for domestic debt and GH¢7.6 billion for external obligations.
The Minister noted that ongoing debt restructuring efforts are expected to ease this burden over time.
Capital expenditure (CAPEX) is projected at GH¢57.5 billion (3.6% of GDP), highlighting the government’s focus on infrastructure and growth.
Of this, GH¢45.5 billion will be locally financed including GH¢30 billion for the Big Push Infrastructure Programme while GH¢12 billion will come from foreign loans and grants.
Other expenditures, including payments to Independent Power Producers and ESLA transfers, are estimated at GH¢19.7 billion (1.2% of GDP).
In total, the 2026 budget appropriation stands at GH¢357,105,639,079.87.
