Ghana's government will spend the equivalent of US$10 billion (GHS 110 billion) between 2027 and 2030 on its New Economy programme, about US$2.5 billion (GHS 30 billion) a year, Finance Minister Dr Cassiel Ato Forson told Parliament on Thursday 12 November 2026 as he presented the 2027 Budget Statement and Economic Policy, 3News and Pulse Ghana reported.
The presentation began at about 18:00 Europe/London (18:00 in Accra).
By 2030, the Minister said, government is "targeting real GDP growth of about 8%, unemployment below 8%, and a credible path to an investment-grade sovereign credit rating", according to MyJoyOnline. He said an annual investment-grade readiness report would track fiscal performance, debt affordability, reserves, monetary credibility, financial-sector strength, institutional quality and diversification.
How the US$10 billion is to be funded
Dr Forson said the programme needs 1.5% of GDP a year, drawn from two sources, 3News reported:
- Primary surplus (1% of GDP): Ghana met its 2026 target of a 1.5% of GDP primary surplus. From 2027 to 2030, government will keep a surplus of 0.5% of GDP and put the remaining 1% of GDP towards the New Economy.
- Revenue (0.5% of GDP): revenue collection exceeded 2026 targets and contributed an extra 0.5% of GDP.
StatsGH arithmetic: 1% plus 0.5% gives the 1.5% of GDP the Minister cited. Spread evenly, GHS 110 billion over four years is GHS 27.5 billion a year, slightly below the "approximately GHS 30 billion" annual figure quoted; the GHS 110 billion figure implies a conversion rate of GHS 11 to the US dollar.
The 0.5% of GDP primary surplus is the reduced target StatsGH reported on 8 November.
Starting position
The Minister said public debt had fallen to 44.7% of GDP and gross international reserves had risen to 5.7 months of import cover (Pulse Ghana; MyJoyOnline). He pledged to keep public debt consistent with a 45% of GDP target and to preserve single-digit inflation. On those figures, debt is 0.3 percentage points below the 45% anchor (StatsGH calculation).
The eight pillars
Pulse Ghana listed the pillars as: macroeconomic stability and affordable finance; commercial agriculture; energy infrastructure; critical minerals value addition; tourism, culture and creative arts; textiles and garments; pharmaceuticals, manufacturing and biomanufacturing; and the technology economy.
Sector targets announced so far
According to the Ghana News Agency's live coverage, the Minister also said:
- Ghana's annual energy shortfall cost US$1.5 billion in 2025, and government aims to end dependence on costly emergency power by 2030.
- Commercial rice imports will be prohibited by the end of 2030, with a rice hub in the Afram Plains, and Ghana will reach sugar sufficiency by 2030.
- 50% of cocoa will be processed locally by 2028.
- Public funds spent on foodstuffs must buy only food produced in Ghana.
What is still to come
At the time of publication the Minister was still speaking, and the full 2027 Budget Statement, with its revenue, spending, deficit and financing tables, had not yet been posted on the Ministry of Finance website. Figures above come from the speech as reported by the outlets named; the 2030 numbers are government targets, not forecasts by StatsGH.
This story will be updated with the fiscal framework once the statement document is published.
Earlier StatsGH coverage: KPMG/UNDP pre-budget survey; New Economy sectors.