News:
July 23, 2026
Finance Minister Dr. Cassiel Ato Forson has firmly pushed back against criticisms that the current administration is not spending enough, presenting a detailed account of the government’s expenditures during the 2026 Mid-Year Fiscal Policy Review in Parliament today.
“A narrative has emerged suggesting that this Government is not spending enough. Nothing could be farther from the truth,” Dr. Forson declared. He emphasized that the government is deploying resources “steadily and responsibly,” guided by the principle of spending only what it has, wisely, with the nation’s future in view.
In a comprehensive breakdown laid before the House, the Minister detailed the allocation of billions of cedis across key sectors as part of the approved 2026 Budget.
Public Sector and Debt Obligations
Dr. Forson highlighted that a total of GH¢48.8 billion has been paid to compensate public sector workers, including GH¢4 billion in contributions to the SSNIT and Tier 2 Pension Scheme. To maintain fiscal credibility, the government paid GH¢21.5 billion for interest on debt, alongside US$700 million to service Eurobond obligations. Furthermore, GH¢10 billion has been disbursed to domestic bondholders to restore confidence in the financial system.
Social Protection and Education
Major allocations were made to protect the vulnerable and advance education. The government released GH¢4.5 billion to sustain the National Health Insurance Scheme (NHIS) and GH¢1.1 billion to strengthen specialized healthcare under the MahamaCares initiative.
In the education sector, GH¢4.2 billion was channeled to the GETFund, while GH¢1.8 billion supported the Free Secondary Education Programme to ease the burden on families. Additionally, GH¢46 million covered BECE registration fees, GH¢537 million went toward the “No Fees Stress Policy” for tertiary students, and allowances totaling GH¢104 million and GH¢144 million were paid to teacher and nursing trainees, respectively.
Infrastructure and Energy
Significant funds were directed toward infrastructure and energy to keep the economy running. The government pumped GH¢11.5 billion into Capital Expenditure and GH¢6.5 billion into the “Big Push” Infrastructure Programme. To ensure stable power, the energy sector received GH¢7.1 billion, while road maintenance was bolstered with GH¢1.7 billion from the Road Maintenance Trust Fund.
Youth Employment and Agriculture
To tackle unemployment, GH¢459 million was released to the Youth Employment Agency, and GH¢45 million was dedicated to the National Apprenticeship Programme. In the agricultural sector, the government allocated GH¢1.1 billion to the Ministry of Food and Agriculture for flagship programmes like the National Food Buffer Stock Company, fertilizer distribution, and irrigation. An additional GH¢551 million was placed into an escrow account to modernize agriculture through the establishment of Farmer Service Centres.
Social Safety Nets and Local Governance
Dr. Forson noted that GH¢485 million has been paid to LEAP beneficiaries to support the most vulnerable, while the Ghana School Feeding Programme received GH¢877 million to provide nutritious meals. To deepen decentralization, GH¢4.4 billion was sent to the District Assemblies Common Fund (DACF), and GH¢93 million was paid as allowances to Assembly Members.
Environmental Protection and World Cup
The government also allocated funds for environmental sustainability, including GH¢477.4 million to IRECOP and GH¢16 million to the National Anti-Illegal Mining Operations Secretariat (NAIMOS) to protect rivers and forests. In a notable allocation, GH¢58 million has been disbursed to support Ghana’s participation in the 2026 FIFA World Cup.
Dr. Forson concluded by asserting the government’s commitment to resetting the economy for growth and job creation, maintaining that every cedi spent is aimed at transforming the nation while clearing legacy arrears, for which GH¢5.3 billion has already been paid.
Ghanamps.com