Government targets 8% economic growth, commits $10bn to new economy programme

Finance Minister Dr. Cassiel Ato Forson outlined the first pillar of Ghana's New Economy Programme, focusing on macroeconomic stability, affordable financing, and private-sector growth. The government aims for an 8% real GDP growth rate, low unemployment, and a path towards an investment-grade sovereign credit rating. The 2027 Budget Statement and Economic Policy emphasized maintaining a primary surplus above 0.5 percent of GDP, public debt at 45% of GDP, and single-digit inflation.

To support the programme, the government will invest $10 billion over four years (2027-2030) by reducing the primary surplus target to 0.5 percent of GDP and generating revenue through tax reforms. The first year's investment is GH¢30 billion, or 1.5% of GDP, focusing on strategic infrastructure, energy, transport, technology, skills development, and other productive sectors.

Dr. Forson stressed that the program should be investment-led, export-capable, and job-intensive, with every project undergoing rigorous appraisal and value-for-money assessments. The program's success would be measured by its impact on jobs, incomes, living standards, and the productive capacity of the Ghanaian economy.