![](\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/10\/IMF.jpg\")
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The International Monetary Fund is forecasting a fiscal deficit of 9.2% of Gross Domestic Product for Ghana in 2022.<\/p>\n
This is coming despite a significant cut in expenditure and expected improvement in revenue.<\/p>\n
The deficit is slightly lower than the 11.4% it projected for 2021.<\/p>\n
It is however higher than government\u2019s revised 6.6%, captured in the Mid-Year Budget Review.<\/p>\n
Based on the figures, the country\u2019s fiscal deficit to GDP is higher than all its peers in Sub-Sahara Africa. Zambia follows closely with a fiscal deficit of 9.1% of GDP in 2022.<\/p>\n
The Fund said in its October 2022 Fiscal Monitor Report the deficit will however be slightly lower in 2023, 2024 and 2025 at 8.6%, 8.9% and 8.7% respectively.<\/p>\n
It will however assume an upward trajectory in 2026 and 2027 at 9.7% and 9.6% respectively.<\/p>\n
Primary deficit to end year at 2.1% of GDP<\/strong><\/p>\n Meanwhile, the primary deficit is estimated at 2.1% of GDP in 2022.<\/p>\n It will however narrow to 1.1% of GDP in 2023 and further to 0.0% in 2024.<\/p>\n This will indicate that the country\u2019s revenue mobilisation may be improving.<\/p>\n Revenue to improve but expenditure performance will be mixed<\/strong><\/p>\n Also, government tax revenue in relation to the country\u2019s Gross Domestic Product will grow consecutively from 14.1% in 2022 to 14.7% in 2023, and subsequently to 15.4% in 2025% and then 16.1% in 2026.<\/p>\n However, it is lower than most of its peers in the Sub Saharan Africa region.<\/p>\n Government expenditure in relation to GDP is also estimated at 23.3% of GDP in 2022, a drop from 25.7% recorded in 2021.<\/p>\n It will however remain unchanged in 2023 but will shoot up consecutively in 2024, 2025 and 2026 to 24.3%, 24.8% and 25.8% respectively.<\/p>\n Comparatively to its peers on the African continent, Ghana\u2019s expenditure is one of the highest.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" The International Monetary Fund is forecasting a fiscal deficit of 9.2% of Gross Domestic Product for Ghana in 2022. This is coming despite a significant cut in expenditure and expected improvement in revenue. The deficit is slightly lower than the 11.4% it projected for 2021. It is however higher than government\u2019s revised 6.6%, captured in […]<\/p>\n","protected":false},"author":1,"featured_media":1223258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[17466,3367,6183,1984,85,3074],"class_list":["post-1223256","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-deficit","tag-fiscal","tag-forecasts","tag-gdp","tag-ghana","tag-imf"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1223256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1223256"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1223256\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1223256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1223256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1223256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}