The Minister for Finance, Dr. Cassiel Ato Forson, says Government is committed to clearing all outstanding arrears owed to contractors and other creditors within the next four years through a sustainable and transparent payment plan.
Speaking on the Citi Breakfast Show monitored by The High Street Journal, Dr. Forson said Government inherited GH₵68 billion in arrears, an amount he described as a major contributor to the fiscal deficit, which stood at 3.9 percent of GDP at the time.
He noted that attempting to settle the full amount in a single year would have destabilised the economy.
“Our first responsibility was to validate every claim. We inherited GH₵68 billion, and that alone pushed the fiscal deficit to 3.9 percent of GDP. The Government cannot pay GH₵68 billion in one year,” he said.
Dr. Forson explained that all claims were subjected to a comprehensive audit to verify their accuracy before a multi-year payment strategy was designed.
Under the 2025 Budget, Government allocated GH₵13.8 billion for arrears clearance, of which nearly GH₵12 billion has already been paid.
“I cannot exceed the GH₵13.8 billion Parliament approved for 2025. In the 2026 Budget, I have programmed GH₵25 billion for arrears payment, and the remaining balance will be cleared in 2027 and possibly 2028,” he said. “Within four years, I should be able to clear all the arrears.”
He added that if current payments progress as planned, the outstanding amount entering 2026 would be about GH₵17 billion.
The Minister reiterated that the approach balances fiscal discipline with the need to honour obligations to contractors who have long raised concerns about delayed payments.
He assured contractors that the multi-year plan would ensure predictable disbursements without compromising macroeconomic stability.
