This CABRI Budgets in Africa (BiA) report provides an overview of revenue and expenditure trends in Ghana covering the period 2020 to 2024. The analysis draws on pilot data from CABRI’s Budgets in Africa platform.

Over the period of review, Ghana experienced several external shocks – the COVID-19 pandemic, Russia-Ukraine war and the tightening of global financial markets – that exacerbated pre-existing fiscal vulnerabilities leading up to the 2023 debt crisis. In response, the government implemented broad fiscal consolidation measures, strengthened revenue mobilisation and undertook comprehensive debt restructuring to restore fiscal and debt sustainability. While these measures have contributed to improvements in Ghana’s fiscal position, debt indicators remain elevated. Legislative reforms, including amendments to the 2016 Public Financial Management Act and the 2003 Public Procurement Act have been introduced to strengthen fiscal discipline and ensure long-term sustainability. It is too early to fully assess the impact of related reforms.