Use 2026 Budget to Move Economy from Stability to Transformation – KPMG
By Praisebell Rosemond Larbi
Professional services firm KPMG is calling on government to use the upcoming 2026 National Budget not only to maintain the gains made so far but to move the economy into a new phase of transformation. According to Partner and Head of Advisory at the firm, Kwame Sarpong Barnieh, Ghana is at an important turning point, and the next budget must be the one that catalyzes long-term, broad-based economic growth.
Speaking to the media after the release of KPMG’s pre-budget survey conducted with support from the United Nations Development Program (UNDP), Mr. Barnieh explained that the business community is cautiously optimistic about the direction of the economy. He said many businesses acknowledge the progress made in stabilizing inflation and restoring some level of macroeconomic confidence, but they also believe more concrete actions are needed to sustain momentum.
He noted that while inflation has come down significantly, one of the biggest challenges for businesses in 2025 remains the high cost of credit. Many companies are still struggling with access to capital, which limits expansion and reduces competitiveness. He said this issue must be addressed in the 2026 Budget through practical measures that lower lending costs and improve financing channels for businesses, especially SMEs.
Mr. Barnieh also emphasized that real transformation will require targeted spending in critical sectors such as infrastructure. Although such investments may be costly, he argued that they offer long-term benefits that can unlock productivity and drive growth across multiple industries. He said businesses are ready to support initiatives like the government’s “Big Push” agenda if they see clear evidence of commitment and strategic direction.
He added that beyond major infrastructure, there is also a need for increased domestic investment and stronger support for micro and small-scale enterprises. According to him, keeping the local economy vibrant requires nurturing grassroots entrepreneurship and strengthening smaller firms that form the backbone of the nation’s economic activity.
The KPMG–UNDP survey aims to provide government with evidence-based insights that will help shape policy choices ahead of the 2026 Budget. Mr. Barnieh expressed hope that the findings will guide decision-makers toward practical solutions that maintain stability, accelerate transformation, and ultimately improve economic outcomes for businesses and households.
He concluded that while the gains made so far are encouraging, the next phase must focus on long-term transformation, competitiveness, and sustainable development.
