Deloitte Ghana has urged the government to strengthen fiscal discipline and prioritise investments capable of expanding businesses and creating sustainable jobs as it prepares to present the 2027 Budget.
The professional services firm warned that Ghana’s improving economic indicators must translate into stronger private-sector activity and employment opportunities rather than encourage excessive public spending.
In its pre-budget analysis ahead of the 2027 Budget presentation, Deloitte acknowledged the country’s economic progress, citing real Gross Domestic Product (GDP) growth of 6.0 per cent year-on-year in the second quarter of 2026 and a decline in inflation to 5.5 per cent in October.
However, it cautioned that macroeconomic stability alone would not guarantee stronger business performance, urging companies to base investment and expansion decisions on actual market demand.
The firm noted that lower inflation provides businesses with greater certainty in pricing and investment planning but does not necessarily translate into increased consumer demand across all sectors.
On revenue mobilisation, Deloitte called for improvements in tax administration and compliance rather than the introduction of major new taxes.
It cited findings from the 2024 Integrated Business Establishment Survey, which showed that nine out of every 10 business establishments in Ghana were micro-enterprises, with only 7.7 per cent classified as formal.
According to the firm, broadening the tax base and improving compliance would provide a more sustainable approach to revenue generation, although businesses could face additional cost pressures from measures such as higher fuel-oil levies and increased local beverage excise duties.
Deloitte also expressed concern about the effectiveness of public investment, arguing that government spending must address critical production and infrastructure bottlenecks to deliver lasting economic benefits.
It pointed to the government’s proposal to reduce the primary surplus from 1.5 per cent to 0.5 per cent of GDP to create fiscal space for investments under its New Economy agenda.
However, it stressed that such spending must be carefully targeted to ensure value for money and measurable economic returns.
On employment, the firm highlighted the need to ensure that public investment supports sustainable job creation, particularly amid persistent youth unemployment.
It noted that initiatives such as the 24-Hour Economy and Accelerated Export Development Programme are expected to generate 1.7 million jobs by the end of 2028, but said their success would depend on effective implementation.
Deloitte Ghana Country Managing Partner, Daniel Owusu, called for stronger revenue compliance and enforcement, while encouraging the government to explore sustainable financing arrangements to complete stalled infrastructure projects.
He also urged businesses to use the approved 2027 Budget as a basis for developing their investment, pricing and operational strategies.
Deloitte maintained that the government’s fiscal priorities should balance economic stability with productive investment, arguing that sustainable business growth and employment creation must remain central to the 2027 economic agenda.
