Finance Minister Dr Cassiel Ato Forson is expected to outline how government intends to mobilise US$10 billion for its economic transformation agenda when he presents the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12.
The presentation, scheduled for 6:00 pm, will place the government’s New Economy programme at the centre of discussions on Ghana’s economic direction, investment priorities and job creation prospects for the next four years.
The proposed US$10 billion investment programme, announced by President John Dramani Mahama, is expected to run from 2027 to 2030 and drive a shift from macroeconomic stabilisation towards production, industrialisation and private-sector-led growth.
Government intends to use the initiative to build a productive, competitive, diversified, technology-driven and inclusive economy by expanding investment in strategic sectors and increasing the value derived from Ghana’s natural resources.
Priority areas include commercial agriculture and agribusiness, energy, critical minerals and value addition, textiles and garments, tourism, the creative economy and pharmaceutical manufacturing.
A major issue the Finance Minister is expected to address is how the proposed investment will be financed and implemented to ensure that the programme delivers measurable economic benefits.
Government has indicated that it does not intend to return to the international capital market to contract expensive loans for the initiative. This places greater emphasis on domestic resource mobilisation and private-sector participation in financing the proposed investments.
The budget is therefore expected to provide details of the funding arrangements, investment structures and measures to attract businesses and investors into the targeted sectors.
Economic recovery in focus
Beyond the New Economy programme, Dr Ato Forson is expected to present an assessment of Ghana’s economic performance in 2026 and outline the fiscal measures government intends to pursue in the coming year.
Available figures indicate that the economy recorded real GDP growth of six per cent in the second quarter of 2026, exceeding the annual growth target of 4.8 per cent.
Inflation also declined to 5.5 per cent in October, although the rate had increased for three consecutive months after reaching 3.2 per cent in March.
Gross international reserves stood at 4.2 months of import cover in August, above the minimum target of three months.
These developments provide the economic backdrop for government’s efforts to move beyond stabilisation and accelerate investment in productive activities.
Businesses and households await policy direction
The 2027 Budget is expected to attract considerable attention from businesses, organised labour, civil society organisations and economic analysts, particularly regarding revenue mobilisation, public spending and the sustainability of government’s investment commitments.
Issues surrounding domestic revenue generation, expenditure management, arrears clearance and public debt are also expected to feature prominently in parliamentary scrutiny.
Businesses will be particularly interested in measures to improve the investment climate, expand access to economic opportunities and support local production.
Organised labour and households, meanwhile, will be looking for policies that address employment, living costs and the quality of public services.
Ultimately, the success of the proposed US$10 billion New Economy programme will depend on government’s ability to secure sustainable financing, attract private investment and translate its development priorities into productive businesses, decent jobs and improved living standards.
The 2027 Budget is expected to provide the policy direction for that transition.
