New Economy: Ato Forson briefs chiefs ahead of 2027 Budget

Dr. Cassiel Ato Forson, the Finance Minister, has announced Ghana's New Economy programme as a four-year plan aimed at transforming the country's economic structure. During a meeting with the National House of Chiefs, the finance minister outlined the government's vision for the programme. The New Economy is a four-year initiative, he stated, to overhaul the economic framework of Ghana.

Ogyeahoho Yaw Gyebi II, the President of the National House of Chiefs, expressed gratitude to Dr. Forson for his efforts in improving the economic situation. He described the minister as a "hardworking finance minister" and voiced hope that the upcoming Budget would tackle the issue of youth unemployment.

The New Economy programme is set to be unveiled on November 12, 2026, during the presentation of the 2027 Budget. The budget's focus is on a four-year economic transformation plan, spanning from 2027 to 2030. The government aims to invest a total of US$10 billion over these four years. The primary objectives include promoting local manufacturing and agriculture, boosting the domestic processing of raw materials, decreasing dependency on imports, supporting private sector exports, and generating employment opportunities.

Macro-economic targets for the New Economy programme include a year-on-year growth rate of the economy beyond 6.0%. Inflation, on the other hand, is expected to hover around 7+/-2%.