Ghana's Finance Minister, Dr. Cassiel Ato Forson, will present the 2027 Budget to Parliament on November 12, 2026, with a focus on shifting the country's economic focus from stabilisation to production, industrial expansion, and job creation.
The government has made progress in its economic recovery programme, including completing the final review under the International Monetary Fund (IMF) programme in July 2026. Economic growth reached 6.0% in the second quarter, and annual inflation declined to 5.2% in September.
The US$10 billion New Economy programme, announced by President John Dramani Mahama, is a four-year investment framework covering 2027 to 2030. The programme aims to translate the gains from economic recovery into increased domestic production, value addition, industrial capacity, and employment.
The central objective is to ensure that improvements in macroeconomic conditions translate into tangible economic opportunities for businesses and households.
The New Economy framework is built around seven priority areas, with the government proposing to mobilise approximately US$10 billion over four years to support investments across these sectors. The priority areas include macroeconomic stability, commercial agriculture, agri-industry and agribusiness, energy sector reforms and investment, critical minerals and value addition, cotton, textiles and garments, tourism, culture and creative arts, and pharmaceutical manufacturing hub.
According to President Mahama, the programme seeks to address some of the structural challenges that have historically constrained Ghana's productive sectors, including high energy costs, limited processing infrastructure, expensive credit, and the country's continued dependence on imported goods. The programme also aims to improve Ghana's credit standing and create conditions that could support lower borrowing costs and increased access to long-term financing for businesses.
Dr. Cassiel Ato Forson stated that the programme is expected to benefit several groups, including young people, who will have access to employment opportunities across commercial agriculture, manufacturing, textiles, pharmaceuticals, and the creative sector. The programme will also benefit farmers, who will have improved incomes, and local enterprises, which will have greater opportunities for growth and expansion.
The implementation of the New Economy programme is expected to have significant implications for Ghana's economy, including increased economic growth, job creation, and improved living standards. The programme is also expected to attract foreign investment, improve the business environment, and increase Ghana's competitiveness in the global market.