Economist and Senior Lecturer at the University of Ghana, Dr Priscilla Twumasi Baffour, has welcomed the government’s renewed emphasis on infrastructure development in the 2026 Budget but cautioned that the real test lies in effective implementation and prudent use of public funds.
Speaking on JoyNews’ Newsfile on Saturday, November 15, Dr Twumasi Baffour said the budget outlines ambitious intentions regarding expenditure and revenue, with encouraging commitments to strengthening the economy’s productive base.
“I believe that the budget is basically government’s intentions in terms of expenditure and revenue,” she explained. “The plans are bold; we are excited about the fact that we are investing in infrastructure to build on the productive base of the economy.”
However, she stressed that many similar projects had appeared in previous budgets without corresponding action, making efficient implementation crucial.
“So the reality of it is in the implementation,” she said. “Some of the projects we see have been observed in earlier budgets. The implementation is critical, as is efficiency in the usage of public funds.”
Dr Twumasi Baffour highlighted procurement as a major national challenge, warning that inefficiencies and corruption in the system often lead to inflated government expenditure.
“Government expenditure is always over-bloated. So in that regard, we hope that that office will work efficiently and not become another conduit to delay and extort funds from contractors.”
Turning to the financing of the proposed infrastructure drive, the economist cautioned that the government’s reliance on mineral resources may be risky, given declining oil revenues.
“Our expectation is that if the funding is available… I must indicate that a lot of the big-push infrastructural funding is based on mineral resources,” she explained.
“Oil revenues have been going down due to the reduction in oil production in the country.”
Despite these concerns, Dr Twumasi Baffour said the potential benefits could be significant if the plans are executed properly.
“We hope that, if all things are equal, there is improvement in connectivity, access to roads, and connecting farms to factories,” she said.