Mahama outlines US$9bn 'New Economy' plan for 2027–2030 ahead of November 12 budget

President John Dramani Mahama has unveiled plans to invest over US$9 billion in job-creating sectors between 2027 and 2030, as part of the government's "New Economy" policy. The full details will be presented to Parliament when Finance Minister Dr. Cassiel Ato Forson delivers the 2027 Budget Statement and Economic Policy on November 12.

Mahama emphasized that the initiative aims to secure decent and dignified livelihoods for citizens. The Volta Region is expected to benefit significantly from targeted investments in textiles, garments, commercial agriculture, hospitality, and tourism. The Volta Region is set to receive a substantial portion of the funding under the New Economy policy, focusing on these priority sectors.

The five-year US$10 billion New Economy framework, announced in October, allocates about US$2 billion annually across nine productive pillars, including pharmaceuticals, agribusiness, textiles, and tourism. Analysts have called for the government to disclose the financing structure, investment criteria, and sector allocations in the upcoming budget.

Finance Minister Dr. Cassiel Ato Forson stated that the New Economy policy aims to elevate Ghana to an investment-grade sovereign credit rating to reduce borrowing costs and facilitate local companies' access to long-term capital.