2027 Budget: Ato Forson pledges disciplined use of fiscal space to create jobs and boost production

Finance Minister Dr Cassiel Ato Forson has pledged responsible use of fiscal space in Ghana's 2027 Budget to create jobs, strengthen domestic production, and generate lasting value for citizens. Speaking at the presentation of the budget to Parliament on November 12, 2026, Forson emphasized that every cedi of fiscal space must directly answer three national questions: the jobs it will create, the imports it will replace, and the exports it will generate.

Forson stated that Ghana had previously accumulated fiscal space but failed to allocate it consistently towards transformative investments. He noted that resources were often spread thinly across competing demands after the immediate economic pressures eased. Projects were initiated without rigorous appraisal, and short-term consumption consumed investment in productive capacity. This weak allocation of resources meant that the government did not use the economic recovery to alter the structure of the economy.

The New Economy program, as announced by Forson, aims to address this issue by linking fiscal stability to production, employment, and long-term economic value. The Finance Minister acknowledged the sacrifices made by households during periods of economic instability, asserting that the recovery's value would be measured by its impact on people's lives through improved employment, higher incomes, and greater economic opportunities.

Ghana's gross international reserves have increased to the equivalent of 5.7 months of import cover, providing households and businesses with greater certainty and allowing them to plan beyond immediate economic pressures. Forson highlighted that these financial gains would give people the opportunity to focus on long-term stability, production, job creation, rising incomes, and new economic opportunities, rather than constantly dealing with crises.