Gov’t saves over GH¢8b through special audit- Deputy Finance Minister

The government has reportedly saved more than GH¢8 billion following a special audit, Deputy Minister of Finance Thomas Nyarkoh Ampem has disclosed.

The exercise, carried out earlier this year by the Auditor-General’s office in collaboration with leading accounting firms, reviewed arrears claims inherited from previous administrations. Of the total claims examined, GH¢8.1 billion were rejected due to unsupported documentation, duplication, inflated amounts, previously settled payments, or contracts that were never executed.

Mr. Nyarkoh made the announcement at a pre-budget stakeholders’ engagement held in Accra yesterday. Organised under Section 21 of the Public Financial Management Act (PFMA), the meeting brought together representatives from the banking, insurance, and development finance sectors to provide insights and recommendations ahead of the 2026 national budget and economic policy.

Participants included officials from Development Bank Ghana, GHAMFIN, Star Assurance, SIC Life Insurance, the Insurance Brokers Association of Ghana, GIRSAL, the National Home Ownership Fund, and StarLife. The engagement is intended to ensure that the budget reflects practical sectoral input while promoting transparency and accountability in public finance. Finance Minister Dr. Cassiel Ato Baah Forson is expected to present the 2026 Budget Statement to Parliament by November 15, 2025.

The Deputy Minister also noted that the audit validated GH¢45.4 billion worth of legitimate arrears, including payments due to contractors, and that disbursements are already underway. A payroll review conducted as part of the exercise uncovered 53,311 fictitious employees on government payrolls, representing GH¢150 million in unearned salaries. Recovery efforts for these funds are in progress.

Highlighting the importance of the stakeholder consultation, Mr. Nyarkoh explained that gathering views from financial institutions and other key players is essential to producing a budget that is realistic, implementable, and capable of driving sustained economic growth. He further stressed that the government’s ongoing commitment to fiscal discipline, prudent debt management, and structural reforms has delivered tangible results, with inflation brought down to single digits and public debt reduced to 46.8 per cent of GDP as of August 2025.