World Bank hails Ghana’s fiscal discipline, urges support for vulnerable

The World Bank has commended Ghana for its progress in restoring fiscal discipline but cautioned that efforts to achieve macroeconomic stability should not come at the expense of investments in critical sectors, particularly those that protect the most vulnerable.

The Bank’s Country Director for Ghana, Sierra Leone and Liberia, Robert Taliercio, issued the advice during the launch of the 9th Ghana Economic Update in Accra.

He noted that the government’s commitment to corrective measures such as budgetary discipline and reforms in public financial management was yielding results.

According to him, the first half of 2025 recorded a primary surplus of 1.1 percent of Gross Domestic Product (GDP) on a commitment basis, achieved mainly through expenditure rationalisation.

“The new administration has shown commitment to corrective measures, including budget and public financial management reforms. Encouragingly, the first half of 2025 saw improvements, with a positive primary balance of 1.1 percent of GDP (on a commitment basis) achieved through expenditure rationalisation,” Mr Taliercio said.

However, he emphasised that while fiscal consolidation was essential for stabilising the economy, it should not overshadow the need to maintain strategic investments.

“While the government continues to pursue macroeconomic stability through fiscal consolidation, it is important that this objective does not override the need to maintain spending in strategic areas, particularly those aimed at protecting the vulnerable,” Mr Taliercio added.