Finance Minister Dr Cassiel Ato Forson has announced that the government aims to narrow Ghana’s fiscal deficit sharply from 2.8% of GDP in 2025 to 2% in 2026, in a move to maintain fiscal discipline while supporting growth.

Presenting the 2026 Budget Statement and Economic Policy in Parliament on Wednesday, Dr Forson said the government remains focused on expanding the tax net rather than overburdening existing taxpayers, as part of efforts to strengthen revenue mobilisation and ensure fiscal sustainability.

“Our focus is on expanding the tax net, not overburdening existing taxpayers,” he told Parliament.

He explained that government expenditure will remain under tight control, rising modestly from 15% of GDP in 2025 to 15.4% in 2026. This, he noted, forms part of measures to consolidate fiscal stability while providing adequate resources for key national priorities.

Dr Forson said the government is targeting a primary shortfall of 1.5% of GDP in 2026, consistent with Ghana’s fiscal anchor, to ensure that economic recovery is sustained without jeopardising debt reduction efforts.

He added that on a commitment basis, the overall fiscal deficit is projected at 2.2% of GDP, while on a cash basis, it is expected to stand at 4% of GDP.

“This fiscal stance balances consolidation with growth, maintaining discipline while safeguarding resources for productive investment under the Big Push Infrastructure Programme and other national priorities,” Dr Forson stated.

The “Big Push Infrastructure Programme,” one of the government’s flagship initiatives, is expected to channel significant investment into roads, health, education, and energy infrastructure to spur job creation and support economic growth.

The 2026 budget presentation marks the first under the Mahama-led administration, which has pledged to restore macroeconomic stability, promote inclusive growth, and rebuild investor confidence following years of economic turbulence and fiscal strain.