Finance Minister Dr Cassiel Ato Forson has announced a GH¢30 billion investment in the government’s New Economy agenda for 2027, aimed at strengthening domestic production, supporting businesses and expanding employment opportunities.
Speaking in Parliament on Thursday, November 12, during the presentation of the 2027 Budget Statement and Economic Policy, he said the investment would form part of a US$10 billion economic transformation programme running from 2027 to 2030.
He explained that the initiative would focus on building a productive economy capable of supporting local enterprises, increasing exports and creating sustainable jobs.
Commercial agriculture is expected to be one of the major beneficiaries, with US$3 billion allocated to the sector under the broader investment plan.
Ato Forson said the agricultural component would cover the entire value chain, including production, transportation, processing, packaging and trade, rather than focusing solely on farming.
He noted that Ghana’s continued dependence on imported food and agricultural products was costing the country valuable economic opportunities and putting pressure on the local currency.
He argued that strengthening domestic production would allow local farmers and businesses to meet more of the country’s demand while reducing exposure to external price shocks.
“Every avoidable import is more than a customs entry into our country. It is a farm that was not financed, a factory that remained idle, a transport contract that was never signed and a job that was created elsewhere,” he said.
On accountability, the Finance Minister said the government would subject projects under the programme to rigorous appraisal and value-for-money assessments to ensure that public funds are used effectively.
He added that all expenditure would be properly authorised and transparently reported, with investments directed towards projects that offer meaningful economic returns.
