{
  "id": 19691680,
  "title": "Gov’t to invest $10bn in new economy programme from 2027 to 2030 – Ato Forson",
  "url": "https://urgent.news/2026/11/12/govt-to-invest-10bn-in-new-economy-programme-from-2027-to-2030-ato",
  "topic": "world",
  "section": "World",
  "published": "2026-11-12T18:46:56.000Z",
  "source": {
    "name": "GBC Ghana",
    "slug": "gbc-ghana",
    "url": "https://www.gbcghanaonline.com/news/business/ato-forson-6/2026/"
  },
  "original_language": "en",
  "account": "Finance Minister Dr Cassiel Ato Forson has announced a $10 billion investment over the period of 2027 to 2030 as part of the government's four-year programme, designated as the New Economy: New Ghana, Jobs and Prosperity. This initiative aims to address long-standing weaknesses in Ghana's economic structure by boosting local production and increasing job creation.\n\nPresenting the 2027 Budget Statement and Policy Statement to Parliament, Dr Forson highlighted that while Ghana's economy had grown at an average real GDP growth rate of 5.4% from 1990 to 2025, this growth had not resulted in sufficient job generation or improved living standards for many citizens. He pointed out that Ghana's reliance on raw commodity exports, primarily cocoa and oil, had left the economy vulnerable to fluctuations in global commodity prices, causing periods of economic instability.\n\nThe 2022 economic crisis exposed weaknesses in public finances, characterized by excessive spending, poor revenue collection, and high debt servicing costs, which pushed inflation to 24.1% by the end of 2022. The debt during this period exceeded 100% of GDP according to debt sustainability assessments and international reserves dwindled to less than a three-week supply of imports. This crisis had a significant impact on households and businesses, leading to increased costs for daily necessities, higher interest rates, and financial strain on many families.\n\nDespite these challenges, the economy showed signs of recovery in 2025. Inflation dropped from 23.8% to approximately 5.4%, the primary balance transformed from a deficit to a surplus, public debt reduced to 44.7% of GDP, and international reserves increased to cover 7.3 months of imports. The Finance Minister outlined that the government's focus would be on shifting towards a more sustainable economic model, emphasizing the expansion of local production, processing more of Ghana's natural resources domestically, and generating decent employment opportunities.\n\nThe New Economy programme is also strategically planned to coincide with Ghana's 70th anniversary of independence in 2027. Dr Forson stressed the importance of changing the country's economic priorities to ensure that growth is sustainable, productive, and benefits the general populace.",
  "summary": "By Ashiadey Dotse Finance Minister Dr Cassiel Ato Forson has announced that the government will invest the equivalent of $10 billion between 2027 and 2030 to transform Ghana’s economy and create jobs. He said the investment would form part of the government’s four-year programme, known as the New Economy: New Ghana, Jobs and Prosperity, aimed […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "3News",
        "title": "Ghana’s economy has grown but lacks resilience - Ato Forson",
        "url": "https://urgent.news/2026/11/12/ghanas-economy-has-grown-but-lacks-resilience-ato-forson",
        "published": "2026-11-12T18:37:59.000Z"
      },
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "Gov’t to spend $10 billion over 4 years to create a modern Ghanaian economy – Ato Forson",
        "url": "https://urgent.news/2026/11/12/govt-to-spend-10-billion-over-4-years-to-create-a-modern-ghanaian",
        "published": "2026-11-12T18:59:30.000Z"
      },
      {
        "outlet": "Adom Online",
        "title": "Government to spend US$10bn from 2027 to 2030 to transform economy – Ato Forson",
        "url": "https://urgent.news/2026/11/12/government-to-spend-us-10bn-from-2027-to-2030-to-transform-economy",
        "published": "2026-11-12T19:15:41.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}