Government to double road infrastructure allocation in 2026 budget to sustain Ghana’s economic recovery

Accra, Oct. 24, GNA. The government has announced plans to more than double its road infrastructure allocation in the 2026 national budget as part of efforts to sustain economic recovery and build long-term resilience.

Mr Thomas Nyarko Ampem, Deputy Minister for Finance, said recent macroeconomic improvements had created a strong foundation for inclusive development, shared prosperity, and renewed fiscal discipline anchored on infrastructure expansion.

Speaking at a stakeholder engagement session for the 2026 budget preparation, he said: “The government remains steadfast in sustaining the momentum of economic recovery and building a resilient economy that delivers opportunity for all Ghanaians.”

Mr Ampem disclosed that more than 60 road projects were already underway across the country to enhance connectivity and stimulate economic activity, with increased funding earmarked for the coming year. He explained that the infrastructure drive recognised transportation networks as a catalyst for trade, growth, and job creation.

“Our focus areas include economic stabilisation and fiscal discipline, infrastructure and social development, social protection, education and youth empowerment, as well as employment creation,” he said.

The Deputy Minister noted that the 2026 budget would balance infrastructure investment with social development priorities, including expanded funding for healthcare, education, and vulnerable groups.

He attributed the fiscal space for capital investment to improved macroeconomic indicators, highlighting a primary balance surplus of 1.4 per cent of GDP, a reduced fiscal deficit of 1.5 per cent, and a decline in public debt to 46.8 per cent as of August 2025.

Mr Ampem added that inflation had dropped to 9.4 per cent from over 20 per cent, treasury bill rates had fallen by 1,300 basis points, and Ghana had secured credit rating upgrades from international agencies.

The Ghanaian currency has appreciated significantly, indicating improved investor confidence and reducing the cost of imported construction materials and equipment needed for infrastructure projects. The IMF agreement and Moody’s credit rating upgrade reaffirm international confidence in Ghana’s economic direction,” he said, adding that such developments could unlock concessional financing and attract private sector participation in infrastructure delivery.

He reaffirmed the government’s commitment to sustaining the economic turnaround through prudent debt management, structural reforms, and strategic capital investment.

Mr Ampem said consultations with financial and non-financial institutions, civil society, academia, and citizens would continue to shape the 2026 budget, in accordance with Article 179(1) of the 1992 Constitution and Section 21 of the Public Financial Management Act, 2016 (Act 921), which requires stakeholder input in budget formulation.

The 2026 budget, which prioritises job creation and private sector-led growth, is scheduled to be presented to Parliament in November 2025.