Ghana plans to channel support towards 9 productive sectors with significant job-creation potential under a proposed GH¢10 New Economy policy. The policy is expected to be introduced in the 2027 Budget.
The government seeks to address the disconnect between economic growth and employment.
The Deputy Minister of Finance, Mr Thomas Nyarko Ampem, acknowledged the challenge, saying the urgency of addressing unemployment had become greater than ever. He said the government would focus on supporting job creators and strengthening productive businesses. The government aims to ensure that economic growth translates into more employment opportunities.
Ghana's economic expansion has not generated sufficient decent employment opportunities for its growing working population, despite improvements in key macroeconomic indicators. The economy expanded by 6% in 2025 to GHS 1.4 trillion.
Inflation fell from 23.8% in December 2024 to 5.4% in December 2025. Gross international reserves reached US$13.8 billion, equivalent to 5.7 months of import cover.
Government Statistician Dr Alhassan Iddrisu said the employment benefits of economic expansion remained limited, particularly as business formation continued to outpace job creation. He said Ghana had 2.64 million businesses in 2024, including enterprises operating in open spaces and mobile businesses.
Although the number of business establishments operating in buildings nearly tripled between 2014 and 2024, the number of people employed by them only doubled.
Dr Iddrisu raised concerns about the nearly two million young people who were not in employment, education or training (NEET), noting that women accounted for more than 60% of the group. He urged policymakers to place greater emphasis on the informal sector and develop targeted interventions to bring more young people into productive economic activities.
The proposed GH¢10 New Economy policy will be a significant test of how effectively government support can translate into business expansion, increased productivity and sustainable employment. Mr Ampem said the government would strengthen collaboration with the Ghana Statistical Service by increasing domestic funding for statistical activities and improving coordination across the national statistical system.