International auditing firm, KPMG, is affirming that a strong macroeconomic foundation has been laid for Ghana’s economy after years of economic turbulence; however, the real test of this strong foundation lies ahead.
This was the conclusion of KPMG after a critical review of Ghana’s 2026 Budget Statement and Economic Policy.
KPMG explains that it is glaring for all to see that inflation has cooled into single digits, the cedi has found some stability, and the country’s debt position looks far healthier than it did just a few years ago.
“Ghana has laid the foundation: single-digit inflation, a stronger currency, and a healthier debt profile,” the firm noted in its report.
But the international firm was quick to add that building a solid foundation is only half the job; the real test is what Ghana does with it to improve lives and livelihoods.
The firm says the country now stands at a crucial turning point. The stability everyone has been waiting for is here, but stability alone doesn’t create jobs, boost incomes, or lift people out of poverty. What matters next is whether the economy can convert this newfound calm into real and lasting productivity and decent work for millions of young people entering the job market.
As many Ghanaians attest, although prices may be rising more slowly, people seeking job opportunities are not finding any. The currency may be stronger, but businesses still face high costs, complex tax rules, and slow-moving regulations that exhaust entrepreneurs long before they even start.
KPMG suggests that the magic is translating this stability into real gains for the unemployed, households, businesses, and the economy in general, depends on how the government simplifies taxes, builds connectivity in the economy, invests in social programmes, and builds an improved business environment for the private sector.
The government, KPMG says, must remove all obstacles that make it hard for businesses to expand and for industries to flourish. That means trimming down complicated tax procedures that discourage investment, speeding up the development of digital systems and logistics infrastructure, and encouraging more local participation in key value chains so that wealth is created.
“The challenge now is to turn these gains into lasting productivity improvements and decent jobs, while maintaining social investments that broaden opportunity. This requires simplifying the tax and regulatory environment, fast-tracking digital and logistics infrastructure, deepening local content across value chains, and maintaining social investments that broaden opportunity,” the review noted.
It added, “It is our belief that the 2026 budget will not remain an intent but will be executed flawlessly to build the Ghana we want.”
The economic managers, KPMG affirms, have done the tough work of stabilizing the economy, but now comes the harder and crucial part of transforming numbers on paper into real improvements in people’s lives.
The 2026 Budget, they believe, provides the right intentions. But intentions alone don’t build factories, create jobs, or drive innovation, making good execution very crucial.
