Ghana records 1.24% primary surplus from January to October 2026 – Ato Forson

Finance Minister Dr Cassiel Ato Forson says Ghana recorded a primary surplus of 1.24% of Gross Domestic Product (GDP) between January and October 2026.

He said the performance put government on course to achieve its full-year primary surplus target of 1.25% of GDP.

Presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, 2026, Dr Forson said the overall fiscal deficit on a cash basis stood at 2.3% of GDP, below the target of 4.5%.

He attributed the fiscal performance partly to improved revenue collection, particularly from taxes.

According to the Finance Minister, total revenue and grants reached GH¢219.3 billion during the first ten months of the year, representing 13.79% of GDP.

Government expenditure on a commitment basis stood at GH¢239 billion, 7.7% below the target.

Dr Forson also disclosed that interest payments as a share of domestic revenue had declined from 25.6% to 17.8%.

He said the reduction had created more room for government to fund development projects and provide essential public services.

The Finance Minister added that the government had fulfilled its obligations to statutory funds by paying all amounts due in full and on time.

Dr Forson further disclosed that Ghana’s provisional public debt stood at GH¢759.2 billion at the end of October 2026, equivalent to 47.5% of GDP.

He said 56.4% of the debt was domestic, while the remainder was sourced externally.

He explained that government’s debt management strategy focused on reducing exposure to foreign currency movements and limiting the impact of exchange rate changes on the country’s debt.

The Finance Minister said government had also continued to meet its obligations to domestic and external bondholders.

He revealed that payments to holders of the Domestic Debt Exchange Programme (DDEP) bonds since 2025 had reached GH¢41.6 billion.

Dr Forson also disclosed that the Sinking Fund account held GH¢29 billion as of November 11, 2026.

According to him, the amount was sufficient to cover the principal and interest payments due in February 2027.

He said government would continue to maintain fiscal discipline and protect the gains made in stabilising the economy.

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