As reactions to the 2026 Budget Statement of Ghana continue to pour in, the Center for Policy Scrutiny (CPS) is flagging the quantum of increase in the government’s allocation for capital expenditure (CAPEX) for 2026.
The 2026 budget allocated GHC57.5 billion to CAPEX, an allocation CPS finds to be a little over 140% increase over the allocation in 2025.
A chunk of the allocation is earmarked for the government’s Big Push Agenda, while other roads, schools, hospitals, and critical projects share a fair portion of the allocation.
Given the huge rate of increase in CAPEX, the think tank is raising important questions about whether the government can realistically deliver on its ambitious plan.
According to their analysis, a jump of this magnitude can only work if the government is “totally committed” to delivering on its promises or if private investors are brought in to share the burden.
For CPS, without these two elements, fears that the plan risks becoming another well-intentioned target that never materializes due to funding shortfalls.
“The 140.6% increase in CAPEX between 2025 and 2026 raises serious questions about its feasibility, unless the government is totally committed and/or complemented by private investment,” portions of CPS’s review cited by The High Street Journal read.
Despite raising concerns about the ambitious allocation, the think tank acknowledges that the government’s Big Push programme, which focuses on accelerating infrastructure delivery, shows signs of seriousness.
They point to clearer fiscal planning, better coordination across ministries, and stronger institutional arrangements.
But CPS stresses that these systems must actually work in practice, not just on paper.
CPS noted, “The Big Push programme demonstrates fiscal commitment and institutional readiness. The integration of PPPs and performance monitoring will improve delivery prospects, efficiency, and financial sustainability.”
Revenue still tight and high interest payments, CPS believes public–private partnerships (PPPs) will be essential to making the projects financially realistic. They argue that bringing private capital into areas like transport, energy, and housing could ease pressure on the public purse while also improving the quality of the final projects.
But even with PPPs, CPS insists that strong monitoring and accountability are non-negotiable. Ghana has seen projects stall or collapse simply because oversight was weak. A 140% increase in project spending, they warn, could easily translate into waste if performance monitoring isn’t tightened.
For CPS, it is not dismissing the government’s ambition. Instead, it says the country must approach this with clear eyes.
As analysts indicate, a huge boost in capital spending could stimulate jobs, expand economic activity, and improve living standards. However, it must be carefully planned, realistically funded, and closely monitored.
