Where will the money come from? MP questions 24-hour economy funding

The MP for Manso Nkwanta, Tweneboa Kodua Fokuo, has raised concerns about the financing of the government's 24-hour economy programme. In an interview on the PM Express, he warned that the programme's funding could come under pressure in 2027 if revenue targets are not met. Mr Fokuo pointed out that the financing plan relies heavily on future revenue, rather than existing funds, and questioned the sustainability of the initiative, especially with economic growth expected to slow down in 2027.

He emphasized that the government's ability to finance the programme would be contingent on revenue mobilisation, which is still pending. The proposed adjustment to the primary surplus target from 1.5% to 0.5% was meant to create fiscal space for the programme but could be further strained by the anticipated slowdown in economic growth.

Mr Fokuo also expressed doubts about the private sector's initial response to the programme, attributing it to a lack of adequate risk-management measures. He argued that the absence of a clear framework left the private sector hesitant, forcing the government to explore a financing arrangement that relies more on public funds. As attention turns to the 2027 Budget, which is expected to outline the government's economic priorities and financing plans, Mr Fokuo's comments highlight the need for clarity on how the programme will be funded and supported by sustainable revenue sources.