UK-based Fitch Ratings has stated that there is a low risk of policy slippage in the lead-up to the December 2024 elections in Ghana, given the government's strong commitment to the International Monetary Fund programme.

However, it pointed out that there is currently greater uncertainty over the degree of commitment of a new administration.

“We estimate the 2024 primary surplus, on a commitment basis, will reach 0.3% of Gross Domestic Product, representing a 4.6 percentage points adjustment compared with 2022, driven by a 0.6 percentage points increase in revenue and a 4.1 percentage points reduction in primary expenditure”.

“Despite a record of fiscal slippage in election years, we consider there is a low risk of policy slippage in the lead up to the elections due in December 2024, given the strong commitment of authorities to the IMF programme, but there is currently greater uncertainty over the degree of commitment of a new administration”, it added.

It projected Ghana's primary surplus to reach 0.9% of Gross Domestic Product in 2026 on a commitment basis.

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