Ghana Must Strengthen Budget Credibility and Fiscal Discipline, Says BudgIT Global Director
Global Director of BudgIT Foundation, Oluseun Onigbinde, has urged the Government of Ghana to enhance fiscal discipline and improve budget credibility, warning that without these fundamentals, economic reforms risk becoming ineffective.
Speaking during the official launch of BudgIT Ghana’s Simplified 2025 Budget Statement and stakeholder capacity workshop held in Accra, Mr Onigbinde stressed the importance of aligning public spending with revenue realities, adding that excessive taxation is compounding the financial burden on ordinary Ghanaians.
“I tried to buy something like KFC and I was shocked when I saw the cumulative tax, it was around 21 to 22 percent,” Mr Onigbinde noted, stressing the need to streamline revenue measures and prioritise public welfare.
He welcomed the recent move by the Government to cut off support for appointees in the form of fuel allowances, a measure estimated to save the country some $12 million.
“You need to look into those other spaces where you can tighten the belt for the political elite so that they can have solidarity with the people, because there is no country that progresses without fiscal discipline,” he quipped.
He further warned that, regardless of the size of Ghana’s national budget – pegged at over GHS 290 billion – if fiscal controls are not strengthened, any monetary or macroeconomic policies will have limited impact. “It’s like pouring water into a basket,” he remarked.
Mr Onigbinde emphasised that fiscal discipline must reflect a commitment to appropriating public resources for the collective good, and not the benefit of a select political class.
The stakeholder capacity workshop, themed “Enhancing Stakeholder Capacity for Inclusive Development”, brought together civil society organisations, policy experts and development practitioners to deepen understanding and engagement with Ghana’s 2025 national budget.
Simplifying Budget Data for All
Also speaking at the workshop, Country Director for BudgIT Ghana, Jennifer Moffat, unveiled the Citizen Budget – a simplified, infographic-based version of the 2025 National Budget aimed at making fiscal data more understandable and accessible.
“What we do at BudgIT is to simplify public data,” Ms Moffat stated. “The Citizen Budget outlines what everyday Ghanaians should know – our revenue projections, expenditure plans, deficit targets and priority areas like health, education, and infrastructure.”
According to her, the simplified budget helps break down complex budgetary frameworks into easy-to-understand formats. She highlighted that the 2025 budget, themed “Resetting the Economy for the Ghana We Want”, includes key policy shifts such as the uncapping of the National Health Insurance Fund and the Ghana Education Trust Fund, as well as the scrapping of the E-levy.
BudgIT Ghana’s Simplified 2025 Budget Statement initiative forms part of a broader civic effort to enhance public financial literacy, encourage informed citizen participation in governance, and improve transparency and accountability in budget formulation and execution.
