The government will not introduce any new taxes in the 2027 Budget Statement and Economic Policy, which will be presented to Parliament on Thursday, November 12.
The Finance Ministry says it will instead finance its flagship programmes and priority development projects through savings from expenditure rationalisation and cuts in public spending.
The assurance was given by the Deputy Finance Minister and MP for Asuogyaman, Thomas Nyarko Ampem, during a closed-door briefing with members of the Parliamentary Press Corps ahead of the presentation.
Mr Ampem said the Finance Minister, Dr Cassiel Ato Forson, will explain how government plans to mobilise and allocate resources for its priority programmes without additional tax measures.
According to him, savings from reduced government expenditure will create the fiscal space needed to drive the administration’s development agenda.
The approach, he said, reflects a renewed focus on expenditure efficiency, tighter control of public spending, and channelling available resources to programmes with the greatest economic and social impact.
The Deputy Minister added that the 2027 Budget will also outline how petroleum revenue will be used in the coming years.
Dr Forson is expected to detail how oil revenues will support infrastructure and other national priorities, following the decision to use oil inflows to fully fund the proposed Accra-Kumasi Expressway.
The expressway, one of the government’s major infrastructure projects, is expected to transform road transport between Ghana’s two largest economic centres.
