Government commits GH¢30bn to New Economy Programme in 2027

Government is committing GH¢30 billion to its proposed New Economy Programme in 2027, as part of efforts to transform Ghana’s economic structure, expand businesses and create jobs.

Presenting the 2027 Budget Statement in Parliament, Finance Minister Dr Ato Forson said the allocation represents 1.5 per cent of Gross Domestic Product (GDP) and will provide the foundation for the country’s economic transformation agenda.

“Mr Speaker, in 2027, we will invest 1.5 per cent of GDP, equivalent to 30 billion Ghana cedis in the New Economy,” he told Parliament.

He said the investment will support productive infrastructure, industries and other strategic sectors to expand businesses, increase exports and create employment opportunities.

According to Dr Forson, the programme is intended to ensure that economic growth translates into tangible benefits for Ghanaians.

“A young Ghanaian will see economic growth reflected in jobs, wages and opportunities. We judge growth by the jobs it creates, the income it raises, and the productive capacity it leaves behind,” he said.

The Finance Minister added that every project under the programme will undergo rigorous appraisal and value-for-money assessments to ensure accountability.

“Our commitment will be budgeted, authorised and transparently reported,” he assured Parliament.

The GH¢30 billion allocation will form part of government’s broader four-year New Economy Programme, which runs from 2027 to 2030.