The World Bank has identified Ghana as one of the countries expected to record the largest improvements in primary fiscal balances between 2024 and 2026, according to its latest Africa Economic Update: Making Industrial Policy Work in Africa.
The report places Ghana among a select group of economies, including Senegal, Sierra Leone, Togo, and Guinea-Bissau, projected to deliver the strongest gains in fiscal consolidation over the forecast period.
As the report explicitly states, “The largest projected improvements between 2024 and 2026 are in Ghana, Guinea-Bissau, Senegal, Sierra Leone, and Togo.”
Regionally, the World Bank notes that Sub-Saharan Africa’s primary fiscal deficit has been steadily narrowing, reflecting ongoing efforts to align government revenues more closely with primary expenditures.
The improvement in Ghana’s fiscal position suggests progress in strengthening revenue mobilisation and containing non-interest spending. However, the report also underscores a persistent structural challenge: high debt servicing costs.
Across the region, interest payments remain elevated and continue to absorb a significant share of public resources, limiting the fiscal space available for development spending.
While Ghana’s inclusion among the top improvers signals stronger fiscal discipline, the broader outlook remains dependent on sustained reform efforts and continued macroeconomic stability.
