Technical Advisor at the Ministry of Finance, Dr Theophilius Acheampong, says the 2026 Mid-Year Budget Review will focus on the government's fiscal performance, expenditure, borrowing and key policy initiatives.

He also revealed expectations in relation to tax reviews.

Speaking on the Super Morning Show on Thursday, July 23, ahead of the budget presentation to Parliament by Finance Minister Dr Cassiel Ato Forson, Dr Acheampong said the review would provide a comprehensive assessment of the economy nearly eight months after the 2026 budget was presented.

Asked by the host of the show whether the public should expect new taxes, Dr Acheampong said:

"So I think, again, in mid-year budget, you don't typically get major policy announcements around taxes. And it's an important point you raised. In the past, the reason why you came to mid-year budget and you were asking for more money, right, or having to cut back on spending and all of that, was because we had not managed the public finances that well."

He continued: "And so you get to a mid-year point, and you're struggling to either cut back on spending or raise more spending. In other words, put more taxes on the people. We are not in that position as I speak currently."

According to him, the review is expected to focus on the government's fiscal performance and any adjustments needed to keep public finances on course, rather than announcing major policy shifts.

Dr Acheampong stressed that Ghana's fiscal challenge lies more in expenditure management than revenue mobilisation.

He said the government intends to improve tax administration by strengthening compliance among existing taxpayers.

"If you look at the numbers that have come through over the last few years, it's very clear. And I had argued this even before going into government that we have a major expenditure problem, less so of revenue. Revenue, yes, you can raise, but if you keep raising money and it keeps going into a leaking basket, you've got a problem, or you have an issue there," he explained.

According to the economist, "The issue is tightening and ensuring that you're spending well and spending in the right places. And then, importantly, even the revenues that you're collecting, you're not imposing any new tax handle, but rather you enforce compliance and ensure that those loopholes that people are abusing are all being tightened."

Dr Acheampong emphasised that "the minister would speak this afternoon along some of those compliance-related measures. So it is not a question of more taxes, but rather tightening the loopholes that people are gaining."

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Dr Acheampong further disclosed that the government is undertaking a comprehensive review of key tax legislation, including the Income Tax Act, customs laws and excise duties, to make the country's tax system more responsive.

"We've taken a fundamental review of the core tax laws. Some measures may be announced in the Mid-Year Budget Review, while others will take more time to implement," he said.

Beyond fiscal policy, he indicated that the finance minister will also provide updates on major infrastructure and agricultural projects, including road construction, agro-commerce initiatives and other interventions aimed at improving food transportation and boosting economic activity.

Finance Minister Dr Ato Forson is expected to present the 2026 Mid-Year Budget Review to Parliament, providing an update on the economy's performance in the first half of the fiscal year, the implementation of the 2026 budget and the government's revised fiscal and economic outlook for the rest of the year.