The Finance Minister, Dr. Cassel Ato Forson, has revealed that a total budget for the fiscal year ending December 31, 2026, is projected as GH¢357,105,639,079.87.
He shared this information on Thursday, November 13, during the presentation of the 2026 Budget Statement and Economic Policy to Parliament.
The Minister stated that the total planned expenditure for 2026 is GH¢302.5 billion, which is 18.9% of the Gross Domestic Product (GDP). This represents a 20.1% increase from the 2025 estimate of GH¢251.7 billion, which was 17.8% of GDP.
He mentioned that the 2026 budget reflects a careful balance between fiscal discipline and strategic investments in infrastructure, human resources, and social safety nets.
Primary spending, excluding interest payments, is expected to be GH¢244.7 billion, or 15.3% of GDP. Employee compensation, which includes wages, salaries, pensions, gratuities, and social security contributions, is projected to reach GH¢90.8 billion, making up 5.7% of GDP.
This amount includes a negotiated 9% increase in base pay for public sector employees under the Single Spine Salary Structure.
The budget for goods and services is set at GH¢13.2 billion, which is 0.8% of GDP, aimed at improving efficiency in service delivery across Ministries, Departments, and Agencies (MDAs).
Furthermore, he said grants to other government entities, including transfers to the GETFund, National Health Insurance Fund (NHIF), and District Assemblies Common Fund (DACF), are estimated at GH¢63.6 billion, or 4.0% of GDP.
Interest payments are expected to be GH¢57.7 billion, which is 3.6% of GDP. Out of this, GH¢50.1 billion will be allocated for domestic interest payments, while GH¢7.6 billion will be for external interest obligations.
The Minister highlighted that ongoing debt restructuring and liability management efforts are expected to lessen the interest burden in the medium term.
Capital expenditure (CAPEX) is estimated to be GH¢57.5 billion, which is 3.6% of GDP. This highlights the government’s dedication to investments that promote growth.
Out of this amount, GH¢45.5 billion will be funded domestically with GH¢15.5 billion allocated for MDAs and GH¢30 billion for the Big Push Infrastructure Programme while GH¢12 billion will be sourced from foreign financing, including project loans and grants.
Additionally, other expenses, such as payments to Independent Power Producers (IPPs) and transfers under the Energy Sector Levies Act (ESLA), are projected to be GH¢19.7 billion, or 1.2% of GDP.
Considering these allocations, the total budget for the 2026 fiscal year is set at GH¢357,105,639,079.87.