Government commits GH¢30bn to New Economy Programme in 2027

In 2027, the Government of Ghana is allocating a substantial GH¢30 billion towards its proposed New Economy Programme, aimed at transforming the nation's economic structure, fostering business expansion, and generating employment opportunities. Finance Minister Dr Ato Forson, presenting the 2027 Budget Statement in Parliament, revealed that the investment constitutes 1.5 percent of the country's Gross Domestic Product (GDP), equivalent to GH¢30 billion.

This strategic allocation will lay the groundwork for the country's economic transformation agenda, focusing on productive infrastructure, industries, and other critical sectors to boost businesses, boost exports, and create employment opportunities.

Dr Forson emphasized that the programme's primary objective is to ensure that economic growth translates into tangible benefits for the Ghanaian people. He stated, "A young Ghanaian will see economic growth reflected in jobs, wages and opportunities. We judge growth by the jobs it creates, the income it raises, and the productive capacity it leaves behind."

Every project under the New Economy Programme will undergo stringent appraisal and value-for-money assessments to maintain transparency and accountability, with every aspect of the GH¢30 billion budget being budgeted, authorized, and transparently reported to Parliament. This four-year program, spanning from 2027 to 2030, is part of the broader government strategy to revitalize Ghana's economy.