Finance Minister Dr. Cassiel Ato Forson has raised concerns over the severe impact of global and domestic shocks on Ghana’s 2026 revenue framework, highlighting major losses from the petroleum sector and delayed development financing.
Addressing Parliament during the presentation of the 2026 Budget, he disclosed that upstream petroleum receipts had drastically underperformed.
“Revenues from oil and gas amounted to GH¢5.9 billion, significantly below the target of GH¢12.4 billion,” the Minister announced, describing the 52.2 percent slump as one of the biggest setbacks in the fiscal year.
He explained that the decline was largely driven by external factors, “lower international oil prices, reduced production volumes, and the moderating effect of the Cedi’s appreciation on oil-related revenues.”
Dr. Forson warned that this combination of declines continues to pose fiscal risks, particularly for budget items pegged to petroleum inflows.
The Minister further addressed the underperformance of statutory receipts. “Other revenues, including SSNIT contributions to the National Health Insurance Levy and proceeds from ESLA, totalled GH¢6.6 billion,” he said, noting that this represented a 6.5 percent deviation from the GH¢7.0 billion target.
Despite the shortfall, he emphasised that these inflows remain “an important source of funding for health and energy sector obligations.”
Even more worrying were delays from development partners. Grant disbursements reached only GH¢963 million, far short of the GH¢1.9 billion anticipated. Dr. Forson stated plainly; “The shortfall reflects delays in project grant disbursements from development partners.”
He assured the House that government is intensifying engagements to fast-track releases for key infrastructure and social projects.
