The Minister for Finance, Dr Cassiel Ato Forson, has defended the government’s approach to clearing outstanding arrears owed to contractors and other creditors, insisting that the administration is committed to a sustainable and transparent process.
According to him, the government inherited GH₵68 billion in arrears, which, he said, significantly contributed to the fiscal deficit of 3.9% of GDP.
He stressed that immediately paying off the full amount in a single year would have been impossible without destabilising the economy.
This comes after experts raised concerns that government efforts appear overly focused on maintaining clean fiscal books while many contractors continue to complain about delayed payments.
Dr Forson explained that the first step was to subject all claims to a comprehensive audit to validate them before determining an appropriate payment strategy.
“We inherited GHC68 billion, and that is what gave us the fiscal deficit of 3.9% of GDP. The government cannot pay 68 billion in one year. So, first I needed to subject these to an audit to validate them and be sure of the strategy I will use to clear these arrears. In doing so, in the 2025 budget, I programmed to pay GhC13.8 billion for the payment of the arrears.
“So far, I have about Ghc12 billion, and I am left with about GhC1.8 billion to go. I cannot exceed the GHC13.8 billion Parliament gave me.
“In the 2026 budget, I programmed Ghc25 billion, and I will pay that and pay the rest in 2027 and possibly 2028. I think within the four years, I should be able to pay all the arrears,” he said.
He added, “…If I am able to pay this year, by next year, it will be left with about Ghc17 billion to be paid.”
Dr Forson presented the Budget Statement for 2026 in Parliament on Thursday, November 13.
