Ato Forson to Present 2027 Budget, Outline Plans for $10bn New Economy Programme

Story by: Regina Bless

Finance Minister Dr Cassiel Ato Forson is expected to present the 2027 Budget Statement and Economic Policy to Parliament today, Thursday, November 12, outlining the government’s economic priorities, spending plans and development agenda for the coming year.

The presentation, scheduled for 6:00 pm, is expected to focus on consolidating Ghana’s recent economic gains while accelerating growth through increased production, industrialisation, job creation and improved living standards.

The 2027 Budget comes at a crucial stage in Ghana’s economic recovery, as the government seeks to move beyond economic stabilisation towards building a productive, competitive and diversified economy.

One of the major highlights expected in the budget is the proposed US$10 billion New Economy investment programme announced by President John Dramani Mahama. The initiative is expected to run from 2027 to 2030, with the aim of transforming key sectors of the economy and creating sustainable employment opportunities.

The programme is expected to target strategic sectors such as commercial agriculture and agribusiness, energy, critical minerals, textiles and garments, tourism, the creative economy and pharmaceutical manufacturing.

It also seeks to promote value addition to Ghana’s natural resources, strengthen local businesses, encourage technological advancement and create more opportunities for young people.

A key issue the Finance Minister is expected to address is how the government intends to mobilise the US$10 billion required to finance the programme.

Government has indicated that it does not intend to rely on expensive borrowing from the international capital market to fund the initiative. This places greater importance on domestic resource mobilisation, private-sector investment and alternative financing arrangements.

Dr Ato Forson is also expected to provide an assessment of Ghana’s economic performance in 2026, particularly in the areas of inflation, economic growth, public debt, revenue mobilisation, government expenditure and international reserves.

Available indicators show that Ghana recorded real GDP growth of 6 per cent in the second quarter of 2026, exceeding the annual growth target of 4.8 per cent.

Inflation also declined to 5.5 per cent in October 2026, although the rate had increased for three consecutive months after reaching 3.2 per cent in March.

Meanwhile, gross international reserves stood at 4.2 months of import cover in August 2026, above the minimum target of three months.

Despite these positive indicators, the budget is expected to attract considerable attention from businesses, organised labour, civil society organisations, economists and other stakeholders.

Issues such as domestic revenue generation, public expenditure, debt sustainability, government arrears and the implementation of flagship programmes are likely to feature prominently in parliamentary discussions.

Ultimately, the success of the 2027 Budget will be measured not only by economic figures and government projections but also by its impact on the everyday lives of Ghanaians.

The government will be expected to demonstrate how its proposed policies and investments will translate into meaningful job opportunities, improved public services, better infrastructure, stronger businesses and a reduction in the cost of living.

As Ghanaians await the presentation, attention will be on whether the 2027 Budget can turn the country’s recent economic recovery into tangible opportunities and sustainable improvements in living conditions.