The 2024 State of the Ghanaian Economy Report (SGER) by the Institute of Statistical, Social and Economic Research (ISSER) suggests that past governments, particularly the immediate past government, spent most of the money it borrowed to pay salaries, bills, and interest on old debts and not to build or develop new infrastructure.

The report, launched on October 29 by the economic and research outfit of the University of Ghana, revealed that the country’s borrowing has not been focused on projects that create long-term growth or assets.

“Ensure that each dollar borrowed is invested in the productive ventures capable of generating sustained returns. Invest more in capital projects; some feasible examples are education and health”, parts of the report suggested.

Between 2017 and 2022, Ghana issued US$11.025 billion in Eurobonds. This is compared with US$4.5 billion between 2009 and 2015.

The report also noted that capital expenditure has been minimal. In 2024, it increased by just 0.1% of GDP, from 2.4% in 2023 to 2.5%, a sharp decline from 6.9% in 2010.

Consequently, ISSER has recommended a prioritisation of debt management and sustainability by the government, adding that the government borrow responsibly and at near concessional rates as much as possible.

It is also calling for the resourcing of the Public Interest and Accountability Committee to provide oversight of government debt to ensure transparency and accountability.

Meanwhile, the current administration led by President John Mahama entered office with what he describes as a "reset agenda," an economic recovery and social transformation move to help stabilise and ensure economic growth.

Some of the cost-cutting initiatives implemented by the government since assuming office include a reduction in government size, where he reduced the number of ministers to 56, four short of his 60-minister cap.

In June, he ordered the discontinuation of all DSTV and other satellite TV subscription payments at the Jubilee House.

This forms part of the government's reset agenda to cut costs and save the taxpayers' money, as revealed by the Minister of State for Government Communications, Felix Ofosu Kwakye.

"I can reveal to you that if you come to this house, there's no office in this house that is allowed to subscribe to DSTV or any satellite television," he said.

Speaking during an appearance on JoyNews yesterday, Mr Kwakye revealed that the ban on the use of DSTV and other satellite television subscriptions at the Jubilee House will eventually be extended to all other government agencies and institutions.

He noted that while the decision might appear "trivial," an internal review revealed that satellite TV subscriptions were accounting for a considerable share of operational expenses.

“You would say that that is a trivial matter, but he has done that. Because when you computed the cost, it was significant money.”

“You can turn on the television that you see here, and you will find that I'm only limited to local television stations. It is something that will be extended to all government agencies to ensure that we don't waste the taxpayers' money,” he added.

More cost-cutting measures are currently being discussed, the Government Communications Minister said, adding that they will soon be announced.

Also, a report from Joy Business suggests that the 2026 Budget Statement and Economic Policy will be presented to Parliament on November 13.

The proposed date, which is subject to parliamentary approval, will mark the government’s first major budget presentation since winning the 2024 elections and having nearly nine months to steer the economy.

The presentation of the year-ahead budget is per the Public Financial Management Act, 2016 (Act 921) of Ghana, which was passed by Parliament and assented to on August 25, 2016, and it governs how public funds are managed across all government entities.

The Act mandates that the Finance Minister, acting on behalf of the President, lay before Parliament, not later than the 15th of November of each financial year, estimates of the revenues and expenditures of the government. According to some analysts, the 2025 Budget mostly followed the same plans, ideas, and policies that the erstwhile government set up.

In July this year, the Finance Minister, Ato Forson, mentioned that the Mahama-led administration will present its 2026 budget and economic statement to Parliament in October 2025, instead of November 2025.

With this, Parliament would have about an additional month to debate the 2026 budget before the House goes on recess in late December. He noted that the timeline for the presentation of the budget will aid thorough deliberation, allowing room for alterations before the budget comes into force at the beginning of 2026.

“We are aiming to present the 2026 budget to Parliament by the end of October 2025. Preparations are already underway. We want to avoid the delays and uncertainties of the past. This government is committed to proper planning and transparency,” he disclosed during an appearance on a special edition of PM EXPRESS with host Evans Mensah on July 24.

However, the Finance Ministry later announced in a statement in August that November 15 would be the new date for the budget presentation. In the same statement, it requested inputs from the general public to be considered in the 2026–2029 National Budget.

The inputs, the Ministry said, were to be submitted electronically to bdru@mofep.gov.gh by close of business on Friday, 29th August, 2025.

This call was in line with the government's responsiveness to the needs of the Ghanaian citizenry to deepen citizens' participation in the budget process, as well as implement inclusive policies.

Consequently, the Finance Ministry has reportedly completed several rounds of stakeholder engagements and industry consultations to finalise the policies and programs that will feature in the 2026 Budget.

In earlier interviews, Dr Forson has listed economic growth, development and job creation, particularly for Ghana’s ballooning youth and deepening unemployment crisis, as the main focus of the 2026 Budget.

Sources also suggest that the Finance Minister is set to introduce new policy measures aimed at reforming the tax system and improving revenue mobilisation.