On November 13, Finance Minister Dr. Ato Forson is set to present the much-anticipated 2026 budget statement and economic policy to parliament. This event marks a significant milestone as it will be the government’s first major budget presentation following their victory in the 2024 elections. With nearly nine months to steer the economy, the upcoming budget is crucial for setting the direction of fiscal policy.
In previous interviews, Dr. Forson emphasized that the 2026 budget will primarily focus on job creation and stimulating economic growth. The finance ministry has already held several stakeholder engagements and consultations to finalize the policies that will be included in the budget. This collaborative effort aims to ensure that the budget addresses the needs of both businesses and households.
One of the expected highlights of the 2026 budget is a review of the current tax system. Notably, sources suggest that Dr. Forson may propose a reduction of the Value Added Tax (VAT) rate from 22% to 20%. This change is part of broader reforms designed to simplify the tax structure and enhance revenue mobilization. Furthermore, stakeholders are keen to know how the finance minister plans to manage the fiscal deficit while ensuring macroeconomic stability, especially with Ghana poised to exit the IMF program in May 2026.