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The government has projected a total expenditure of GH¢357.1 billion for the 2026 fiscal year, according to the Budget Statement and Economic Policy presented to Parliament on Thursday, November 13, 2025, by the Minister for Finance.
The amount, which covers total appropriations for the year ending December 31, 2026, represents a 20.1 percent increase over the 2025 projection of GH¢251.7 billion. Total expenditure on a commitment basis has been programmed at GH¢302.5 billion, equivalent to 18.9 percent of Ghana’s GDP.
The Finance Minister explained that the 2026 budget reflects a balance between fiscal consolidation and strategic investment in infrastructure, human capital, and social protection.
Primary expenditure, excluding interest payments, is projected at GH¢244.7 billion, or 15.3 percent of GDP. Compensation of employees — including wages, pensions, and social security contributions — is expected to reach GH¢90.8 billion, representing 5.7 percent of GDP. This figure reflects a 9 percent increase in base pay for public sector workers under the Single Spine Salary Structure.
Expenditure on goods and services is pegged at GH¢13.2 billion, representing 0.8 percent of GDP, to improve efficiency across Ministries, Departments, and Agencies (MDAs). Transfers to other government entities such as the GETFund, National Health Insurance Fund (NHIF), and District Assemblies Common Fund (DACF) are projected at GH¢63.6 billion, or 4 percent of GDP.
Interest payments are estimated at GH¢57.7 billion, accounting for 3.6 percent of GDP. Of this, GH¢50.1 billion will cover domestic obligations, while GH¢7.6 billion will go toward external interest payments. The Minister said ongoing debt restructuring is expected to reduce interest costs over the medium term.
Capital expenditure (CAPEX) is projected at GH¢57.5 billion, representing 3.6 percent of GDP. Of this amount, GH¢45.5 billion will be financed domestically — GH¢15.5 billion for MDAs and GH¢30 billion for the Big Push Infrastructure Programme while GH¢12 billion will be funded externally through loans and grants.
Other expenditures, including payments to Independent Power Producers (IPPs) and Energy Sector Levies Act (ESLA) transfers, are estimated at GH¢19.7 billion, or 1.2 percent of GDP.
