By Jibril Abdul Mumuni, GNA
Accra, Nov. 4, GNA- As Ghanaians await the presentation of the 2027 Budget Statement and Economic Policy, attention is likely to focus not only on measures to ease the cost of living but also on how the government intends to implement its broader economic transformation agenda.
The budget comes at a time when the economy has recorded improvements in key macroeconomic indicators, creating expectations that the gains from stabilisation would be translated into jobs, business growth and improved living standards.
One area to attract considerable interest is the proposed Women’s Development Bank (WDB).
In the 2026 Budget, Finance Minister Dr. Cassiel Ato Forson announced an allocation of GH¢401 million for the initiative, stating that the bank would provide affordable financing for small businesses and entrepreneurs.
Women entrepreneurs and small business owners will therefore be looking to the 2027 Budget for further details on the bank’s operationalisation, capital structure, lending framework and eligibility requirements.
Businesses will also be monitoring policy measures linked to the government’s flagship 24-Hour Economy Programme.
The programme is expected to play a central role in job creation and industrial expansion, making any incentives for manufacturers, exporters, agribusinesses and service providers a key area of interest.
Industry players are likely to seek clarity on tax incentives, financing arrangements and other interventions designed to encourage investment, production and employment generation.
The most significant policy issue to watch is the government’s proposed US$10 billion economic transformation programme, which is outlined in the 2027-Fiscal-Strategy.
The document states that the strategic shift towards jobs and prosperity will be supported by annual investments equivalent to 1.5 per cent of GDP over four years, amounting to approximately US$10 billion.
The objective is to channel resources into sectors with the greatest potential to create jobs, boost productivity, increase exports and accelerate value addition within the economy.
According to the fiscal strategy, the programme will focus on seven key pillars: macroeconomic stability; commercial agriculture, agri-industry and agribusiness; energy sector reforms and investment; critical minerals and value addition; the cotton, textile and garment industry; tourism, culture and creative arts; and the development of a pharmaceutical manufacturing hub.
Stakeholders will therefore be looking for specific budget allocations, implementation timelines and policy measures relating to these strategic sectors.
The fiscal strategy also signals a shift from stabilisation to transformation, placing job creation at the centre of economic policy. Government aims to move the economy from consumption-led growth to production-led growth, while encouraging greater value addition and private sector participation.
Consequently, businesses and investors will pay close attention to measures intended to reduce production costs, improve access to finance, support exports and strengthen Ghana’s industrial base.
The extent to which the 2027 Budget addresses these issues, particularly the Women’s Development Bank, incentives under the 24-Hour Economy Programme and the US$10 billion economic transformation agenda, could significantly influence business confidence and public perceptions of the economy.
For many Ghanaians, the key question will be whether the budget contains practical measures capable of translating recent macroeconomic gains into jobs, higher incomes and improved living standards.
GNA
Edited by Linda Asante Agyei