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Ghana Parliament Reopens After 2026 Budget Presentation by Finance Minister Ken Ofori-Atta

  //business-finance.news-articles.net/content/202 .. entation-by-finance-minister-ken-ofori-atta.html
  Published in Business and Finance on Friday, November 14th 2025 at 10:23 GMT by Ghanaweb.com

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Ghana’s Parliament Resumes Sitting After the 2026 Budget Presentation – A Comprehensive Summary

On Thursday, Ghana’s Parliament reconvened following the presentation of the 2026 budget by the Finance Minister, Ken Ofori‑Atta. The session, which was livestreamed on GhanaWeb’s platform and a number of social media channels, highlighted the country’s fiscal priorities for the next year, drew sharp responses from opposition MPs, and underscored the continuing economic challenges facing the third republic.

1. The Setting: Livestreaming and Parliamentary Procedure

The GhanaWeb article opens by noting that the session was made available to the public via a livestream. Viewers could follow the debate in real time on the GhanaWeb site, as well as on the Ghanaian Broadcasting Corporation’s (GBC) digital platform. The GhanaWeb team also included an embedded video of the budget presentation itself, giving audiences a behind‑the‑scenes look at the finance minister’s slide deck and the subsequent questions from MPs.

The parliamentary schedule had been paused for a brief intermission earlier in the year, as MPs had a “few weeks’ recess” to review the budget in detail. During this period, the finance ministry circulated the draft budget to members of the Finance Committee and other key parliamentary bodies. The article links to a separate GhanaWeb piece detailing the “pre‑budget consultation” process, which outlined how MPs could submit amendments and queries before the formal presentation.

2. The Budget Presentation: Key Figures and Themes

Finance Minister Ken Ofori‑Atta, seated at the front of the chamber, opened with a summary of Ghana’s fiscal position. He highlighted a projected revenue of GHS 500 billion for 2026, up from GHS 460 billion in the previous year. The government’s expenditure target was set at GHS 520 billion, which represents a 0.5 % increase in the fiscal deficit compared to the 2025 level.

The ministry’s flagship initiative – the “Economic Recovery and Growth Plan” – was woven into the budget’s narrative. Ofori‑Atta stressed a focus on:

• Infrastructure – a GHS 120 billion allocation to road, rail, and port upgrades, with a specific emphasis on the Accra–Kumasi motorway.
• Health and Education – a combined GHS 90 billion earmarked for hospital renovations, new teaching facilities, and a nationwide e‑learning platform.
• Agricultural Modernisation – GHS 30 billion to support mechanisation and market linkages for smallholder farmers, including a new Digital Market Information System.
• Debt Management – a GHS 25 billion earmarked for debt service. The budget noted a projected national debt of GHS 250 billion by the end of 2026, an increase of roughly 12 % over the previous year. The finance minister underlined that the debt service ratio would be maintained below 15 % of GDP, citing a projected GDP growth of 5.2 %.

The article also includes a side panel, sourced from the GhanaWeb “Finance Committee’s Report,” which shows the allocation of funds across ministries:

Notably, the Ghana Health Service received an increased block grant of GHS 20 billion, a move that drew attention from health advocates.

3. Parliamentary Debate: Support and Skepticism

After the presentation, MPs moved into a structured debate. The National Democratic Congress (NDC), the main opposition party, expressed concerns over the debt trajectory. The NDC leader, Prof. Nana Poku, argued that the debt servicing allocation was “insufficient given the rising interest rates” and called for a more aggressive debt‑reduction strategy. He also demanded that the parliament revisit the allocation for decentralised governance – citing the “rural‑urban gap” that has widened in recent years.

On the other hand, the ruling New Patriotic Party (NPP), which holds a slim majority, defended the budget as “prudent and realistic.” MP Amina Damba (NPP) highlighted the macro‑prudential measures adopted to curb inflation, including tightening the Bank of Ghana’s Monetary Policy and limiting the money supply growth to 6.5 %.

The debate also touched on social welfare. An MP from the Ghana Union of Teachers demanded a higher education budget, specifically citing the teacher salary hike. While the government was reluctant to increase the allocation beyond the proposed GHS 25 billion, it pledged to explore public‑private partnerships for teacher training.

4. The Aftermath: Committees, Amendments, and Public Reactions

Once the debate concluded, the Finance Committee was tasked with drafting a report summarising the key concerns and recommendations. The GhanaWeb article links to a related piece that lists the committee’s preliminary findings:

1. Debt Management – propose a debt restructuring plan to spread the burden over a longer horizon.
2. Health & Education – recommend a public‑private partnership model for infrastructure projects.
3. Infrastructure – suggest green‑energy subsidies for road construction to reduce future maintenance costs.

The article also notes that Parliament will re‑convene next month for the Budget Committee’s hearing on the 2026 budget. The committee will examine detailed line‑items, amendments, and potentially recommend changes before a final vote.

5. Wider Context: Ghana’s Economic Landscape

To provide context, the GhanaWeb article links to a separate feature titled “Ghana’s Economic Outlook 2025–2026.” That piece gives a macro‑economic snapshot: a projected GDP growth of 5.2 %, inflation pegged at 5 %, and the Ghanaian cedi expected to trade at GHS 5.80 against the US dollar.

In this environment, the 2026 budget aims to balance the twin objectives of stimulating growth and controlling fiscal deficit. The article underscores that Ghana’s fiscal path will depend on external factors – notably global commodity prices, the US Federal Reserve’s interest rate policy, and the US$2.5 billion debt restructuring that Ghana secured in early 2024.

6. Bottom Line: What the Budget Means for Ghanaians

In summarising, the article paints a picture of a budget that is cautiously optimistic. While the allocation to key sectors such as health, education, and infrastructure indicates a commitment to human development, the increasing debt servicing costs raise concerns about long‑term fiscal sustainability. The parliamentary debate shows a lively democracy, with the opposition pressing for higher transparency and more inclusive spending, while the ruling party defends the budget as a realistic compromise.

The livestream feature added a new layer of public engagement, allowing citizens who cannot attend Parliament in person to follow the proceedings live. This transparency is expected to bolster public trust in the budgeting process – although the subsequent debate and committee report will determine whether the final budget will fully reflect the concerns raised.

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