2027 budget: No new taxes in 2027 – Ato Forson assures Ghanaians
By Amoako Kwame Finance Minister Dr Cassiel Ato Forson has assured Ghanaians that the government will not introduce any new taxes in 2027, pledging instead to strengthen revenue mobilisation by addressing inefficiencies and plugging leakages in the tax collection system. He said the government would focus on ensuring that individuals and businesses pay the taxes […]
Ghana's Finance Minister, Dr Cassiel Ato Baah Forson, unveiled ambitious plans to fuel economic growth and create jobs through the US$10 billion New Economy Programme in the 2027 Budget Statement and Economic Policy. In a presentation to Parliament on November 12, 2026, Dr Forson detailed a four-year blueprint aimed at reducing the nation's reliance on raw material exports and fostering domestic production, agro-processing, and value-added manufacturing.
The Minister assured lawmakers that fiscal discipline would be maintained to preserve the economic stability achieved thus far, translating growth into enhanced living standards. He stressed that progress would be gauged by employment rates and household income, positioning the plan as a long-term national purpose that transcends political cycles.
To sustain the economic gains of 2026, such as a 6% real GDP growth rate in the second quarter and single-digit inflation, the budget sets forth fiscal targets. These encompass a positive primary surplus of at least 0.5% of GDP, a ceiling of 45% public debt-to-GDP ratio, and the safeguarding of single-digit inflation. The New Economy framework allocates targeted funds to sectors including commercial farming, energy, minerals, textiles, pharmaceuticals, tourism, and creative industries, with time-bound, results-based support for the private sector to thrive.
Written by urgent.news from GBC Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
