Civil society organisations (CSOs) have urged the Ghanaian government to make job creation, stronger revenue mobilisation, and greater transparency central to the 2027 Budget Statement and Economic Policy. This call comes as the government prepares to outline its economic plans for the coming year.
The CSOs also demanded that the government strengthen the management of mineral revenues. They want tax loopholes closed and illicit financial flows tackled. Furthermore, they seek measurable benefits from tax exemptions granted to companies operating in Ghana. These demands were made during a CSO engagement on the 2027 Budget in Accra.
This engagement fits into Ghana's ongoing efforts to achieve sustainable economic growth and fiscal stability. The country has focused on restoring macroeconomic stability over the past year. The 2027 Budget is expected to build on these gains. It aims to move the economy from stability to accelerated development and job creation. Ghana's tax-to-GDP ratio currently stands at about 13 percent. This remains below the government's medium-term target of 18 percent by the end of 2027. This gap highlights the urgent need for improved revenue collection strategies.
Ebenezer Okley of the Economic Governance Platform stated that the government should leverage macroeconomic stability gains. He said these gains must deliver concrete benefits to Ghanaians. He emphasised that the 2027 Budget should clearly show how stability leads to increased employment and stronger economic fundamentals. This perspective underscores the public's expectation for economic improvements to translate into better living conditions.
The implications of these calls are significant for Ghana's economic trajectory. The government will need to balance fiscal prudence with social development goals. Decision-makers will scrutinise the 2027 Budget for clear strategies addressing job creation and revenue enhancement. Markets will watch for policies that promote investor confidence and sustainable growth. The Finance Minister, Dr. Cassiel Ato Forson, is expected to present the budget to Parliament in November. His presentation will detail the government's proposed “New Economy” programme.
David Adjei of the National Resource Governance Institute (NRGI) called for a comprehensive framework for managing mineral revenues. He noted that mineral revenues are currently governed by different laws. Mr. Adjei proposed bringing royalties, taxes, and other mineral-related revenues under a single framework. This would make tracking collection, allocation, and spending easier. He suggested channelling these revenues into the national budget, savings for future generations, and sub-national governments. This structured approach aims to maximise the benefits from Ghana's rich mineral resources.
Mr. Adjei also questioned the mandate and financing of the Minerals Income Investment Fund (MIIF). He asked if its current allocation of two percent of mineral royalties is sufficient. This allocation needs to enable the fund to effectively manage mineral-related investments. He further called for clearer boundaries around the expanding functions of the Ghana Gold Board (GoldBod). This would prevent overlaps with institutions like the Minerals Commission. Transparency in critical mineral transactions, such as the Ewoyaa lithium project acquisition, was also highlighted. He urged disclosure of beneficial ownership, transaction terms, and valuation benchmarks.
The NRGI representative also advocated for increasing the fiscal contribution from the artisanal and small-scale mining (ASM) sector. Despite a boom in gold exports and rising mineral royalties, the ASM sector's contribution remains low. Formalising ASM operations and introducing measures for appropriate contributions to government revenue are crucial. This would help capture more revenue from a significant economic activity. It would also ensure fairness across different mining scales.
Benedict Doh, National Coordinator for the Tax Justice Coalition, called for stronger action against illicit financial flows. He also demanded greater transparency in granting tax exemptions. Literature indicates that about 65 percent of illicit financial flows are linked to commercial activities. This makes stronger transfer-pricing enforcement critical for protecting domestic revenue. Mr. Doh proposed incentives for voluntary tax compliance. He suggested rewarding taxpayers who insist on VAT invoices or receipts. This could encourage consumers to demand invoices, helping businesses accurately account for tax obligations. Such measures are vital for improving Ghana's tax collection efficiency and reaching its revenue targets.