2027 Budget: Your cash is ready, come for your money – Finance Minister to Eurobond holders

Ghana's finance minister, Dr. Cassiel Ato Forson, reported that the country's economy held strong in 2026 despite facing numerous challenges. These included surging oil prices, falling cocoa prices, power generation disruptions, and devastating floods. Speaking at the presentation of the 2027 Budget Statement to Parliament, Forson affirmed that the economic stability achieved in 2025 had been repeatedly tested but remained intact throughout 2026.

Forson attributed the oil price surge to the conflict in the Middle East, which inflated fuel, transportation, and electricity costs for both households and businesses. He also noted a sharp decline in cocoa prices, which impacted Ghana's export earnings and strained the economy. Additionally, a fire in April 2026 at the Akosombo switchyard damaged the control room, temporarily disabling the plant's 1,020-megawatt power generation capacity.

Unprecedented rainfall in June led to devastating floods, resulting in loss of life, displacement, destruction of businesses, and extensive damage to public infrastructure. Forson emphasized that individual shocks in the past would have triggered a crisis, but the combination of these shocks did not jeopardize the economy.

The minister outlined the government's broader vision under the New Economy program, which aims to transform Ghana's economic structure, create sustainable employment, strengthen institutions, and improve citizens' living standards. Looking ahead to 2030, Forson envisioned graduates finding employment in manufacturing, pharmaceuticals, and technology, while farmers would have contract buyers for their produce even before planting.

He expressed optimism that traders would operate in a stable economy with a strong cedi, pensioners would be safeguarded against losses on their savings, and entrepreneurs would have access to affordable credit to expand their businesses. Forson stressed that the government's economic transformation agenda's success should be measured by its tangible improvements in the lives of Ghanaians.

He concluded by encouraging unity, discipline, and faith in one another to build the new economy, change the structure of the Ghanaian economy, create jobs, widen prosperity, and guide the Republic forward.