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KPMG/ UNDP 2024 Budget Highlights

The Budget seeks to advance the path toward fiscal consolidation, macroeconomic stability, increased growth, currency stability, and disinflation...

On Wednesday, November 15, 2023, the Minister for Finance, Hon. Ken Ofori-Atta presented the Budget Statement and Economic Policy under the theme; “Pursuing Growth & Development within a Stable Macroeconomic Environment” to Parliament on behalf of His Excellency Nana Addo-Dankwa Akufo-Addo. 

The Budget seeks to advance the path toward fiscal consolidation, macroeconomic  stability, increased growth, currency stability, and disinflation over the medium-term. The broad policy framework underpinning an approach towards recovery and stability with growth include:

  • Provision of a  pathway towards fiscal consolidation and macro stability
  • Setting out a new debt sustainability path by completing the Debt Restructuring Programme.
  • Implementation of Government’s 5-year Growth Strategy with a focus on value addition, export promotion, domestic and foreign investments, agriculture, industry, tourism, textile & garments, and digitalisation.
  • Disciplined implementation of the 3-year US$3 billion IMF-ECF Programme.
  • The deepening of democratic development by prioritising resources for institutions to support the conduct of the 2024 General Elections.
  • Commitment to funding existing projects in roads, rural electrification and rural telephony sectors as well as  Infrastructure for Poverty Eradication Programme (IPEP).

In addressing the need for enhanced domestic revenue mobilization, the Government has outlined a series of revenue measures in the 2024 Budget. Some of these measures have the potential of boosting local production capacity and contributing to sustainable development goals.  

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