2027 Budget: Here are the eight pillars of Ato Forson’s US$10bn plan to reshape Ghana’s economy
From commercial agriculture and mineral processing to AI and pharmaceuticals, government outlines its eight-pronged strategy to transform Ghana’s economy by 2030.
Finance Minister Dr Cassiel Ato Forson has presented the 2027 Budget Statement and Economic Policy to Parliament, introducing the "New Economy Programme." According to the Ghanaian Times, this $10 billion initiative aims to break Ghana's cycle of economic crises, accelerate industrialization, and create sustainable jobs over the next four years.
The program will be implemented through eight pillars, including mineral processing, AI, pharmaceuticals, and commercial agriculture, with an initial 2027 investment of GH¢30 billion, representing 1.5 per cent of GDP. Starr FM reports the strategy is intended to transform the economy by 2030.
Dr Forson emphasized the need to move beyond peasant agriculture toward modernized food production to reduce unsustainable import dependence. Adom Online and MyJoyOnline Ghana report that Ghana spends approximately US$3.5 billion annually on food imports. The minister highlighted specific areas for agribusiness investment, such as oil palm, sugar, rice, cocoa, poultry, maize, soybean, aquaculture, and vegetables.
He specifically noted that chicken imports cost about US$200 million per year and suggested using local land to grow soybean and maize to support the poultry industry.
Brief written by urgent.news from Starr FM, Adom Online, Ghanaian Times, MyJoyOnline Ghana — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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