Parliament has approved the 2026 Budget and Economic Policy Statement, with a total allocation of GH¢357 billion.
The approval follows the presentation of the estimates and financial allocations by the Minister of Finance, Dr Cassiel Ato Forson, in November 2025 before the House. The budget outlines the plans and programmes of the John Mahama-led government for the 2026 fiscal year, in line with constitutional provisions.
The passage of the budget also comes after Parliament approved the Appropriation Act, 2025, which has since received Presidential assent.
Under the provisions of the Act, funds will be drawn from the Consolidated Fund and disbursed to support the activities and programmes of Ministries, Departments and Agencies (MDAs), as outlined in the First Schedule of payments for the first quarter of 2026.
The Act further authorises selected government agencies to retain up to GH¢28.9 billion of their Internally Generated Funds (IGF) to enhance operational efficiency and strengthen resource mobilisation across the public sector.
In accordance with the law, the Controller and Accountant-General is mandated to ensure the timely release of funds to the respective MDAs upon written authorisation from the Finance Minister, a measure intended to promote accountability and transparency in the utilisation of public funds in implementing the programmes of the Mahama administration.
The approval of the budget is expected to facilitate the timely release of funds to support the country’s development agenda and improve the welfare of the citizenry.
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Story by Sika Togoh | univers.ug.edu.gh
Edited by Gabriel Tecco Mensah
