Government commits US$3bn to commercial agriculture, targets end to rice imports by 2030

Ghana is allocating GH¢30 billion to its proposed New Economy Programme in 2027, part of efforts to reshape the nation's economic structure, foster business growth, and generate employment. Finance Minister Dr Ato Forson revealed this during the 2027 Budget Statement in Parliament. The GH¢30 billion investment represents 1.5 per cent of Ghana's Gross Domestic Product (GDP) and will serve as the cornerstone for the country's economic transformation agenda.

Dr Forson informed Parliament that the allocation will bolster productive infrastructure, industries, and other critical sectors to stimulate business expansion, boost exports, and create job opportunities. The Finance Minister emphasized that the programme aims 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 rigorous appraisal and value-for-money assessments to uphold accountability.

Dr Forson assured the Parliament that the GH¢30 billion allocation will be budgeted, authorized, and transparently reported. The allocation is set to be part of the government's broader four-year New Economy Programme, which extends from 2027 to 2030.