11 answers, 5 from Ghana's own official bodies, with a link to each figure.
What is Ghana's budget deficit?
Ghana's overall fiscal deficit, on a commitment basis, was GH₵3.5 billion (0.2% of GDP) in January to July 2026, against a target of GH₵31.0 billion (1.9% of GDP), according to the Bank of Ghana. For the full year, the 2026 budget targets a commitment deficit of 2.2% of GDP and a cash deficit of 4.0%. The Ministry of Finance's 2027 Fiscal Strategy Document projects a commitment deficit of 2.3% and a cash deficit of 4.4% for 2026.
The commitment basis counts spending when it is committed; the cash basis counts it when paid, so it includes payments of arrears from earlier years. Ghana's fiscal rule targets the primary balance, which excludes interest.
Ghana's non-oil tax revenue reached 6.4% of GDP in the first half of 2026, against a half-year target of 6.5%, according to the Ministry of Finance's 2027 Fiscal Strategy Document. Total revenue and grants were 7.8% of GDP, marginally below the 7.9% target. The 2026 budget projects total revenue and grants of GH₵268.1 billion, or 16.8% of GDP.
Taxes are collected by the Ghana Revenue Authority. The 2026 budget repealed the Electronic Transfer Levy, reformed VAT and raised the Growth and Sustainability Levy on mining companies from 1% to 3%, the document says. Half-year figures are provisional.
Ghana's 2026 budget sets total government spending at GH₵302.5 billion, or 18.9% of GDP, according to the Ministry of Finance's 2027 Fiscal Strategy Document. In the first half of 2026, spending on a commitment basis was 8.0% of GDP, below the half-year target of 9.9%. The ministry projects GH₵366.2 billion of spending in 2027.
The 2026 total was raised from an earlier plan of GH₵281.9 billion to recognise legacy arrears confirmed by the Ghana Audit Service, payments owed to independent power producers and capital spending under the Big Push infrastructure programme. Spending below target in the first half helped keep the deficit below plan.
Ghana's interest payments were 1.3% of GDP in the first half of 2026, below the half-year target of 1.8%, according to the Ministry of Finance's 2027 Fiscal Strategy Document. The ministry attributes the lower bill to falling interest rates, improved debt management and restored macroeconomic stability. It projects interest payments of GH₵61.3 billion in 2027, or 3.4% of GDP.
Treasury bill rates have also fallen: the 91-day bill rate was 5.4% in August 2026, against 10.3% a year earlier, the Bank of Ghana says. Ghana's fiscal rules cap interest payments at 4.0% of GDP.
Ghana recorded a primary surplus of 1.4% of GDP, on a commitment basis, in January to July 2026, against a target of 0.2% of GDP, according to the Bank of Ghana. The 2026 budget targets a primary surplus of 1.5% of GDP for the full year. From 2027 to 2030 the Ministry of Finance plans a primary surplus of 0.5% of GDP each year, its 2027 Fiscal Strategy Document says.
The primary balance is revenue minus spending excluding interest payments. It is the main anchor of Ghana's fiscal rules, because it shows whether the government covers its non-interest spending from revenue. The Ministry of Finance aims to cut public debt to 45% of GDP by 2034.
The figures below use one definition for every country, so they can differ from national figures.
What is Ghana's national debt?
The IMF puts general government gross debt in Ghana at 48.8% of GDP in 2025. Since 2005 it has ranged from 17.3% of GDP (2006) to 92.7% of GDP (2022). Across Sub-Saharan Africa the middle value was 53.0% of GDP, and Ghana placed 29th highest of 46. World rank, highest first: 107th of 185.
What is Ghana's budget deficit?
The IMF puts general government net lending or borrowing in Ghana at -1.3% of GDP in 2025 (a deficit). That is the highest since at least 2005. Across Sub-Saharan Africa the middle value was -3.0% of GDP, and Ghana placed 12th highest of 47. World rank, highest first: 56th of 188.
How much revenue does Ghana's government raise?
15.7% of GDP: that is general government revenue in Ghana for 2025, according to the IMF. The peak was 15.8% of GDP in 2024 and the low 11.0% of GDP in 2005. It is 32nd highest of 47 in Sub-Saharan Africa, where the median is 18.4% of GDP. Worldwide: 161st of 187.
How much does Ghana's government spend?
17.0% of GDP: that is general government spending in Ghana for 2025, according to the IMF. The peak was 31.5% of GDP in 2020 and the low 12.9% of GDP in 2005. It is 35th highest of 46 in Sub-Saharan Africa, where the median is 20.8% of GDP. World rank, highest first: 166th of 186.
What is tax revenue in Ghana?
The latest figure from the IMF, for 2023, is 12.4% of GDP. Its high point since 2005 was 2005, at 21.3% of GDP; its low point was 2013, at 10.7% of GDP. Across Sub-Saharan Africa the middle value was 14.0% of GDP, and Ghana placed 16th highest of 22. Of 110 countries with 2023 data, 88th highest.
What is Ghana's military budget as a share of GDP?
The latest figure from SIPRI, for 2025, is 0.5% of GDP. Its high point since 2005 was 2012, at 0.6% of GDP; its low point was 2005, at 0.3% of GDP. Sub-Saharan Africa median: 1.3% of GDP; Ghana is 42nd highest of 44. Of 149 countries with 2025 data, 139th highest.