By Rachel Quartey & Rukayatu Musah
The Vice President, Professor Naana Jane Opoku-Agyemang, has highlighted significant improvements in Ghana’s fiscal performance, attributing the gains to disciplined economic management and strengthened public financial systems.
Speaking at the Controller and Accountant-General’s Department (CAGD) Annual Conference in Koforidua on Thursday, April 23, 2026, she said government remains committed to deepening transparency, accountability, and efficiency in public financial management.
“This platform offers us an important opportunity to assess our progress and renew our commitment to strengthen Ghana’s Public Financial Management systems through professionalism and institutional excellence,” she stated.
The Vice President noted that sound accounting practices remain central to national development, warning that weak systems can undermine economic stability. “Your work sits at the very heart of national development, as fiscal governance is essential for maintaining Ghana’s progress,” she told participants.
Highlighting recent economic gains, Prof. Opoku-Agyemang disclosed that inflation dropped sharply from 23.8 percent in December 2024 to 3.2 percent as of March 2026. She added that the Ghana cedi has stabilized, supported by improved reserves, while the country recorded a primary fiscal surplus of 1.6 percent—reversing earlier deficits.
“These outcomes are the result of deliberate reforms and improved public financial management systems, driven largely by the work of institutions such as this one,” she said, commending the Finance Ministry for its role.
The Vice President emphasized government’s shift toward technology-driven financial governance, announcing the deployment of artificial intelligence tools and digital systems to enhance revenue collection.
“We are deploying AI-powered trade analytics and digital VAT systems to enhance revenue mobilisation, reduce leakages, and improve compliance,” she said. “At our ports, inspection systems are being introduced to detect under-invoicing and smuggling.”
She added that efforts are underway to strengthen data credibility through GDP and Consumer Price Index rebasing to support evidence-based decision-making.
On compliance and accountability, Prof. Opoku-Agyemang revealed that government is enforcing the amended Public Financial Management Act, 2025, alongside sanctions for breaches and real-time audit monitoring systems.
She also announced plans to establish a Value for Money Office to scrutinize public projects. “This office will certify projects before approval, monitor implementation, and ensure that our resources deliver measurable impact,” she explained.
According to her, the reforms are already yielding tangible results, including reduced public debt, declining treasury bill rates, improved revenue mobilisation, and stronger credit ratings.
Quoting the 2026 Budget, she stressed that “every cedi must work for the Ghanaian people,” urging the CAGD to play a more strategic role in safeguarding public funds.
She tasked the Department to lead the digital transformation of government accounting systems, enforce commitment controls, eliminate “ghost names” from payroll, and ensure real-time financial reporting.
The Vice President linked fiscal discipline to broader national development, including infrastructure expansion, improved social services, and job creation.
“That is the essence of judicious fiscal governance: it turns policy into impact and resources into development outcomes,” she said.
Prof. Opoku-Agyemang urged the Department to continue strengthening accountability systems and institutional capacity to sustain the gains.
“If these commitments are pursued consistently, your work will not only improve the numbers in reports but also improve lives through better governance,” she added.
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Source:
www.gbcghanaonline.com
