Government is banking on savings from reduced public expenditure to finance its priority programmes and development projects in 2027, ruling out the introduction of new taxes in the upcoming budget.
Deputy Finance Minister and Member of Parliament for Asuogyaman, Thomas Nyarko Ampem, disclosed this during a closed-door engagement with members of the Parliamentary Press Corps ahead of the 2027 Budget presentation.
The 2027 Budget Statement and Economic Policy is scheduled to be presented to Parliament on Thursday, November 12, by Finance Minister Dr Cassiel Ato Forson.
Mr Nyarko Ampem said the government would rely on expenditure rationalisation and spending cuts to create the fiscal space needed to implement its flagship programmes without imposing additional tax burdens on businesses and households.
He said the Finance Minister would explain how the administration intends to mobilise and allocate resources to support its development agenda while maintaining its position against introducing new taxes.
The approach signals a stronger emphasis on controlling government expenditure, improving efficiency in the use of public funds and directing available resources towards projects with significant economic and social benefits.
Beyond the tax policy, the Deputy Finance Minister said the budget would also outline government’s plans for the use of petroleum revenue in the coming years.
Dr Forson is expected to provide details on how oil revenues will support infrastructure development and other national priorities, particularly following government’s decision to use petroleum inflows to fully finance the proposed Accra-Kumasi Expressway.
The expressway is among the major infrastructure projects expected to improve road connectivity between Ghana’s two largest economic centres and transform transportation along the corridor.
The government’s no-new-taxes position is expected to be one of the key issues in Thursday’s budget presentation, as businesses and households look for measures to ease the cost of living and support economic activity.
