ISSER Warns Ghana’s ‘Big Push’ Yet to Translate Into Construction Boom

Ghana’s flagship “Big Push” infrastructure programme is showing limited impact on economic activity, with the country’s leading economic think tank warning that tight fiscal controls are delaying the delivery of major projects despite the government’s ambitious investment agenda.

The Institute of Statistical, Social and Economic Research (ISSER) says the construction sector expanded by just 1.3% in the first quarter of 2026, a performance it believes falls well short of what would ordinarily be expected under a large-scale national infrastructure drive.

Presenting ISSER’s review of the 2026 Mid-Year Budget, Director Professor Robert Darko Osei said the weak growth indicates that many of the government’s flagship projects remain at the preparatory or early implementation stage, with little evidence so far of a broader economic boost.

The Institute also attributed the subdued construction activity to the government’s ongoing fiscal consolidation programme, which has sharply curtailed public investment. Capital expenditure during the first half of the year was 41% below budgeted levels, reflecting stringent spending controls and the absence of a supplementary appropriation.

ISSER noted that while the government’s fiscal discipline has contributed to restoring macroeconomic stability, prolonged restraint in capital spending could slow infrastructure delivery and delay the broader economic benefits expected from the Big Push initiative.

The think tank argued that sustainable fiscal consolidation should not be measured solely by expenditure cuts but also by the government’s ability to invest efficiently in productive infrastructure capable of supporting long-term growth, employment and productivity.

The findings highlight the delicate balancing act facing the Mahama administration as it seeks to preserve hard-won macroeconomic stability while accelerating infrastructure investment to drive Ghana’s next phase of economic transformation.