By Francis Ntow
Accra, Nov. 12, GNA – Finance Minister, Dr Cassiel Ato Baah Forson, will today, Thursday, present the Government’s 2027 Budget Statement and Economic Policy to Parliament, with the proposed US$10 billion “New Economy” investment programme expected to take centre stage.
The presentation, scheduled for 1800 hours, is in accordance with Article 179 of the 1992 Constitution and the Public Financial Management Act, 2016 (Act 921), and is being made on the authority of President John Dramani Mahama.
The budget is expected to outline the Government’s revenue mobilisation and expenditure plans, including projections for taxation, borrowing, public spending, economic growth, inflation and employment.
At the centre of the proposed policy direction is a four-year investment programme covering 2027 to 2030, which the Government says is intended to move the economy beyond stabilisation towards increased production, job creation and shared prosperity.
The budget will be the first since Ghana completed its three-year US$3 billion International Monetary Fund (IMF) Extended Credit Facility (ECF) programme and signed on to a new three-year, non-financing Policy Coordination Instrument (PCI) programme.
Under the New Economy initiative, the Government plans to invest approximately US$2.5 billion annually in strategic sectors to translate the gains from macroeconomic stabilisation into productive investments and employment opportunities.
The priority sectors include agriculture and agro-processing, manufacturing, infrastructure, industrial expansion, energy, critical minerals and value addition, cotton, textiles and garments, tourism, culture and the creative economy, as well as pharmaceutical manufacturing.
Dr Forson has explained that the programme is intended to expand domestic production, increase local processing of raw materials instead of exporting them in their unprocessed state, and strengthen the capacity of Ghanaian businesses to compete in domestic and international markets.
The Finance Minister presents the budget against an improved macroeconomic backdrop compared with a year ago, with economic growth reaching six per cent in the second quarter of 2026, while annual inflation declined to 5.2 per cent in September.
However, the country’s external reserves have come under pressure. Bank of Ghana data indicate that gross international reserves declined from US$13.83 billion in December 2025 to US$11.07 billion in August 2026, equivalent to 4.2 months of import cover, down from 5.7 months.
The financing of the proposed investment programme is expected to be a key issue, particularly as economic observers weigh the need to sustain fiscal discipline against calls for increased productive expenditure to accelerate job creation for the country’s growing youth population.
For market traders, farmers and small businesses, the impact of the budget will ultimately be measured by whether improved economic indicators translate into lower lending rates, more affordable credit, and reduced food and utility costs.
Many households and businesses continue to seek tangible improvements in their living and operating conditions despite the reported gains in macroeconomic stability.
Parliament is expected to debate the budget in the coming weeks, with a post-budget workshop scheduled to take place in Ho in the Volta Region.
The proposed investment programme will therefore be closely scrutinised for its financing arrangements, implementation framework, measurable targets and expected economic returns.
The central question for the 2027 fiscal year will be how effectively the Government can sustain the gains made in stabilising the economy while mobilising resources to expand production, create jobs and improve living standards.
GNA
Edited by Beatrice Asamani Savage
Reporter: Franci Ntow
Email: [email protected]