The government’s total expenditures and net lending for the review period totalled GH¢62.089 billion. According to the May 2026 Monetary Policy Report, this was below the target of GH¢78.831 billion by 21.2%.
Compensation of Employees was GH¢21.144 billion, lower than the target of GH¢22.689 billion.
This outturn was 6.8% below its target but recorded some18.1% year-on-year growth.
In terms of fiscal flexibility, compensation of employees constituted 34.1% of domestic revenue mobilised during the period under review.
The use of Goods and Services totalled GH¢1.276 billion, lower than the expected target of GH¢1.974 billion by 35.3%.
According to the Bank of Ghana, this points to some restraint on the part of the government to control discretionary spending.
This expense was, however, higher by 153.5% compared to the same period in 2025.
Grants to other government units amounted to GH¢12.334 billion, compared to the target of GH¢15.243 billion, resulting in a negative deviation of 19.1%.
It nonetheless recorded a year-on-year growth of 5.5%.
The Capital Expenditure for the period under review was GH¢7.345 billion (0.5% of Gross Domestic Product). This was lower than the programmed target of GH¢12.645 billion (0.8% of GDP) by 41.9%.
The outturn represented a year-on-year increase of 61.3%.
Other Expenditure was GH¢2.745 billion, which is 32.4% below the target of GH¢4,059.1 million but higher than the corresponding period of 2025 by 12.3%.
The total interest payments of GH¢17.243 billion was below the target of GH¢21.675 billion for the review period and 6.6% short of its value in the corresponding period of 2025.
