As the world’s major economies wrestle with slowing growth and mounting uncertainty, Ghana’s resilience is emerging as a story of cautious optimism and disciplined recovery.
KPMG, in its latest commentary accompanying the 2026 Pre-Budget Survey, has praised Ghana’s economic management, noting that the country’s progress stands in contrast to a largely subdued global landscape.
The International Monetary Fund’s (IMF) recent outlook predicts global growth to ease further through 2026, with sluggish trade, geopolitical frictions, and weaker commodity prices dampening investment and productivity. Oil prices remain under pressure, and inflation, though easing, continues to pose challenges across many markets.
Against this backdrop, Ghana has managed to chart a more stable path. The economy expanded by over six per cent in the second quarter of 2025; an improvement on the previous year driven by buoyant gold exports and robust private sector credit. Inflation has fallen steadily to single digits, and the local currency has remained largely steady, supported by improved reserves and prudent fiscal oversight.
These positive indicators, according to KPMG, provide a strong base for sustained growth if managed effectively through the forthcoming 2026 budget.
The KPMG–UNDP Pre-Budget Survey, which captures the views of businesses nationwide, points to renewed optimism among industry players who recognise visible gains in infrastructure, education, healthcare, and tax reforms. The scrapping of the electronic levy and adjustments in import duties, the report highlights, have created a more enabling environment for enterprise.
Yet, the optimism is tempered by caution. High interest rates, limited financing options, and slow implementation of policy commitments continue to constrain confidence. Businesses surveyed called on government to prioritise five key areas affordable and long-term credit access, stable and reliable energy supply, streamlined taxation, skills development, and support for sustainability.
KPMG notes that many firms now view sustainability not merely as a social obligation but as a strategic opportunity. The call for green incentives and climate-conscious investment financing reflects a growing appetite for environmentally responsible growth.
In its opinion, KPMG underscores that Ghana’s recovery, though still fragile, is gaining traction. The firm advocates deeper collaboration between the public and private sectors to accelerate diversification, fiscal reform, and governance improvements. “Ghana has come through challenging times, but the momentum is real,” KPMG observes. “What is required now is consistency, trust, and disciplined execution.”
As the government prepares to present the 2026 Budget, KPMG’s message is clear: the foundations for progress are firm but building a resilient, inclusive, and sustainable economy will depend on maintaining focus and translating policy promises into measurable outcomes.
Source: KPMG
Author: Edem Latsu Nukafu
Edem Latsu Nukafu, a passionate communications professional dedicated to public relations, journalism, media strategy, and content development. He holds both a Diploma and Bachelor of Arts Degree in Communication Studies (Public Relations) from the University of Media, Arts and Communication – UniMAC-IJ. A member of Ghana Journalists Association (GJA).
