Fiscal balances improving in Ghana, others; Ghana’s fiscal deficit to GDP to end 2024 at 4.2% – World Bank

The World Bank's October 2024 Africa Pulse Report highlights that fiscal balances in Ghana and other Sub-Saharan African countries are improving due to policies focused on cutting expenditures and raising revenues. However, the pace of improvement is slowing.

Ghana’s fiscal deficit is projected to be 4.2% of GDP in 2024, up from 3.5% in 2023 but significantly lower than 11.0% in 2022.

Efforts such as better oversight, removing "ghost workers," tax reforms, and reprioritizing spending have contributed to this progress. Across the region, the median fiscal deficit is expected to fall to 3.3% in 2024.