The Government’s 2026 Budget Statement and Economic Policy has set a robust target to collect GH¢268.1 billion in total revenue and grants for the fiscal year.
This projection marks an increase of 18.3 per cent over the GH¢226.7 billion recorded in 2025.
In the Budget, presented to Parliament by the Minister of Finance, Dr Cassiel Ato Forson, Non-oil Tax Revenue was projected to be the backbone of domestic mobilisation, contributing GH¢216.1 billion.
He said the ambitious target was anchored on a comprehensive strategy focused on sustaining fiscal discipline, strengthening revenue mobilisation, and eliminating systemic leakages.
The finance minister noted that the growth was anticipated from improved compliance and enhanced enforcement.
He disclosed that oil and gas receipts were expected to contribute GH¢13.6 billion.
The Finance Minister said to achieve this fiscal consolidation, the government would rely on the continuous implementation of the Medium-Term Revenue Strategy (MTRS).
“The strategy prioritises the expansion of the tax net rather than placing an additional burden on existing compliant taxpayers. Crucially, the government has announced structural reforms and enforcement actions to close revenue leakages, particularly at the ports,” he added.
Dr Forson said an Inter-Agency Committee had been established to audit all import-related transfers, and the Bank of Ghana would now match every foreign exchange (forex) transfer with verified import data.
The decisive action followed an audit that exposed the fraudulent use of Import Declaration Forms (IDFs) for illicit forex transfers and the widespread under-declaration of import values, depriving Ghana of approximately GH¢11 billion in potential revenue.
“The Ghana Revenue Authority (GRA) is mandated to establish a special recovery unit dedicated to reclaiming lost revenue identified from the audits. On the expenditure side, the government will enforce sanctions under Sections 96 to 98 of the Public Financial Management (PFM) Act to penalise breaches related to arrears accumulation and non-compliance with commitment controls,” he said.
The Minister said the overall fiscal strategy for 2026 aimed to secure a Primary Surplus of 1.5 per cent of GDP on a commitment basis, aligning with the country’s fiscal responsibility framework to sustain discipline and debt sustainability.
The finance minister said disciplined fiscal stance balanced consolidation with growth, ensuring that public funds were safeguarded for productive investments, including the ‘Big Push’ Infrastructure Programme and the ‘24-Hour Economy’ Programme.-
