The Institute for Economic Research and Public Policy (IERPP) has expressed concern over the government's 2026 Mid-Year Budget Review, calling for greater transparency on several key issues.
IERPP Slams Government's Mid-Year Budget Review
The Institute for Economic Research and Public Policy (IERPP) has raised concerns over what it describes as significant gaps in the government's 2026 Mid-Year Budget Review. In a statement issued on Sunday, July 26, after the finance minister's presentation to Parliament on Thursday, July 23, 2026, the think tank acknowledged positive developments in the economy, including lower inflation, a relatively stable cedi, and an improved debt-to-GDP ratio.
However, it said the review failed to explain several important issues behind those gains. "A credible accounting requires more than a catalogue of achievements; it demands an honest reckoning with the gaps and unexplained figures that remain," the Institute said.
Flagship Programmes Left in the Dark
IERPP said it was, therefore, calling on the government to provide additional data and clarify what it described as unresolved aspects of the country's fiscal position. One of the Institute's main concerns is the absence of updates on two flagship government programmes, the 24-hour economy initiative and Nkonko-Nkitinkiti.
According to IERPP, the 24-hour economy programme, which was presented as a major solution to unemployment and received an allocation of GH¢110 million in the 2026 budget, was not discussed during the mid-year review. The Institute said the review did not state how many jobs had been created, how many people were currently employed under the initiative, or which companies were participating.
Government's Debt Presentation Questioned
IERPP also challenged the government's presentation of Ghana's public debt. While the review reported that public debt had fallen from 61.8 per cent of GDP at the end of 2024 to 45 per cent by June 2026, the Institute argued that the ratio alone does not reflect the country's actual debt burden.
Citing Bank of Ghana data, IERPP said total public debt increased from GH¢663.4 billion in January 2026 to GH¢720.8 billion by May 2026, an increase of about GH¢57 billion within five months. It added that the figure remained close to the GH¢726 billion recorded in December 2024.
Omissions and Lack of Transparency
IERPP also questioned the omission of a recently approved financing facility worth about US$1 billion from the budget review. It noted that Parliament had approved the facility and said the document should have explained its purpose and how it fits into Ghana's overall debt position.
The Institute further revisited the long-running debate over the financing of the Free Senior High School (Free SHS) policy. It acknowledged that the review allocated GH¢1.8 billion to the programme but pointed to a separate US$300 million World Bank/IDA credit facility for school infrastructure.
IERPP Demands Greater Transparency
IERPP is now calling on the government to provide additional data and clarify what it described as unresolved aspects of the country's fiscal position. The Institute urged the government to publish the country's total debt stock in both cedis and dollars alongside debt-to-GDP ratios, disclose the terms of recently approved loan facilities, clarify whether Free SHS remains entirely domestically financed, explain the legal issues surrounding the frozen Contingency Fund, and publish the total liabilities of State-Owned Enterprises (SOEs) and the Bank of Ghana.
The Institute stressed that it was not dismissing recent economic improvements. "IERPP is not asking Ghanaians to deny that progress has been made; the easing of inflationary pressures is real. What we question is whether the full story has been told: both the mechanisms behind these gains and the obligations that remain," the statement said.
The government has yet to respond to IERPP's demands for greater transparency. As the country continues to navigate its economic challenges, one thing is clear: the need for accountability and openness in government decision-making has never been more pressing.
Source: Joy Online
