Finance Minister Cassiel Ato Forson has announced plans to invest GH¢30 billion in the New Economy programme in 2027 as part of efforts to expand businesses, boost exports and create jobs.
Presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, Ato Forson said the investment would provide the foundation for the country’s economic transformation while supporting the government’s development priorities.
He explained that the funding would be sustained over the 2027–2030 period, with the government seeking to finance its economic transformation agenda without compromising macroeconomic stability or reversing the gains made in stabilising the economy.
A significant portion of the planned investment will go into commercial agriculture, which the government has identified as a key driver of economic growth, employment and export expansion.
The sector’s contribution, he added, extends beyond farming to include transportation, processing, packaging, trade and other rural services that support economic activity.
Despite its importance, the Finance Minister observed that Ghana continues to spend billions of dollars importing food and agricultural products that could be produced competitively within the country.
He warned that the country’s dependence on such imports places pressure on the cedi, exposes the economy to external price shocks and limits opportunities for local businesses and communities.
“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 told Parliament.
