Finance Minister Dr Cassiel Ato Forson will present the government’s 2027 Budget Statement and Economic Policy to Parliament today, Thursday, November 12. The statement will outline Ghana’s economic direction and spending priorities for the year ahead.
Scheduled for 6:00 pm, the presentation is expected to detail the government’s plans to build on recent macroeconomic gains and accelerate economic transformation through investment in productive sectors, job creation and improved living standards.
The 2027 Budget comes at a pivotal stage in Ghana’s economic recovery, as the government seeks to move beyond stabilisation towards higher production, industrialisation, private-sector expansion and greater employment opportunities.
The statement is also expected to outline the proposed US$10 billion New Economy investment programme, announced by President John Dramani Mahama, to drive economic growth from 2027 to 2030.
The government says the New Economy agenda will focus on developing a productive, competitive, diversified, technology-driven and inclusive economy. Its priorities include adding value to Ghana’s natural resources, supporting local businesses and expanding opportunities for young people.
A key element of the 2027 Budget is expected to be the financing and implementation framework for the New Economy programme, which aims to mobilise US$10 billion over four years.
The initiative is expected to target strategic sectors such as commercial agriculture and agribusiness, energy, critical minerals and value addition, textiles and garments, tourism, the creative economy and pharmaceutical manufacturing.
The budget is therefore expected to explain how the government plans to raise the necessary funds, attract private-sector investment and ensure the proposed initiatives deliver measurable economic results.
The government has indicated that it does not plan to seek costly loans on international capital markets to fund the programme, placing greater importance on mobilising domestic resources and securing private-sector participation.
Ato Forson is also expected to report on the economy’s 2026 performance, covering inflation, economic growth, public debt, revenue mobilisation, expenditure management, and international reserves.
Available indicators show that Ghana’s real GDP grew by 6 percent in the second quarter of 2026, surpassing the annual growth target of 4.8 percent.
Inflation fell to 5.5 percent in October 2026, despite rising for three consecutive months after reaching a low of 3.2 percent in March.
Gross international reserves amounted to 4.2 months of import cover in August 2026, above the minimum target of three months.
In addition to the government’s economic projections, businesses, organised labour, civil society organisations, economists and other stakeholders are expected to examine whether the 2027 Budget allocates sufficient funding to key sectors.
Parliamentary discussions are also expected to address domestic revenue mobilisation, public expenditure, arrears clearance, debt sustainability and the delivery of flagship programmes.
The government will need to show how its proposed investments will bring concrete benefits to ordinary Ghanaians, particularly by creating jobs, improving public services and infrastructure, and expanding opportunities for businesses.
