Finance Minister Dr Cassiel Ato Forson is expected to present the government’s 2027 Budget Statement and Economic Policy to Parliament today, Thursday, November 12, setting out the country’s economic priorities and spending plans for the coming year.
The presentation, scheduled for 6:00 pm, is expected to outline measures aimed at sustaining Ghana’s recent macroeconomic gains while accelerating economic transformation through increased investment in productive sectors, job creation and improved living standards.
The 2027 Budget comes at a crucial stage in Ghana’s economic recovery, as the government seeks to shift its focus from macroeconomic stabilisation to expanding production, promoting industrialisation, supporting private-sector growth and creating more employment opportunities.
One of the major issues expected to feature prominently in the budget is the government’s proposed US$10 billion New Economy investment programme, announced by President John Dramani Mahama, which is expected to drive economic growth between 2027 and 2030.
The initiative is designed to build a more productive, competitive, diversified, technology-driven and inclusive economy, with particular emphasis on adding value to Ghana’s natural resources, supporting local businesses and creating opportunities for young people.
The programme 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 provide greater clarity on how the government intends to raise the proposed US$10 billion, attract private-sector investment and ensure that the programme delivers measurable results.
The government has indicated that it does not intend to return to the international capital market to secure expensive loans for the initiative. This places greater importance on domestic resource mobilisation and private-sector participation in financing the proposed investments.
Beyond the New Economy programme, Dr Forson is also expected to present an assessment of Ghana’s economic performance in 2026, covering developments in inflation, economic growth, public debt, revenue mobilisation, expenditure management and international reserves.
Available figures indicate that the economy recorded real GDP growth of 6 per cent in the second quarter of 2026, exceeding the government’s annual growth target of 4.8 per cent.
Inflation also declined to 5.5 per cent in October 2026, although the rate has increased for three consecutive months after reaching a low of 3.2 per cent in March.
Meanwhile, gross international reserves stood at 4.2 months of import cover in August 2026, exceeding the minimum target of three months.
However, the budget is expected to attract considerable attention from businesses, organised labour, civil society organisations, economists and other stakeholders, particularly over the government’s spending priorities and the adequacy of allocations to key sectors.
Issues surrounding domestic revenue mobilisation, public expenditure, arrears clearance, debt sustainability and the implementation of flagship government programmes are also likely to feature prominently in parliamentary discussions.
Ultimately, the government will face the task of demonstrating how the proposed investments and economic policies will translate into real improvements in the lives of Ghanaians.
Key expectations will include more employment opportunities, improved public services, better infrastructure and a stronger business environment that allows local enterprises to grow and contribute meaningfully to the economy.
