The Minister of Finance, Dr Cassiel Ato Forson, will present the 2027 Budget and Economic Policy of the government to Parliament on Thursday, November 12, this year.
Ahead of his presentation, he said the budget would unveil the details of the New Economy programme, a four-year investment plan announced by President John Dramani Mahama.
The budget will set out how the government plans to turn Ghana’s economic recovery into decent jobs for young people, better incomes for farmers and more opportunities for Ghanaian businesses to expand.
“Next week, I will show how the New Economy will turn the gains we have made together into jobs and prosperity for all.”
“Ghanaians made sacrifices to get our economy back on its feet. Now, that recovery must mean decent jobs for our young people, better incomes for our farmers and room for Ghanaian businesses to grow and hire,” Dr Forson said.
Domestic production
The $10 billion programme, which will run from 2027 to 2030, is designed to expand domestic production, increase the share of Ghana’s raw materials processed locally and help Ghanaian firms sell more at home and abroad.
The priority sectors include tourism, textiles and garments, agriculture and agribusiness, pharmaceuticals and oil palm production.
The budget will also map out how to raise the $10 billion to finance the seven pillars earmarked under the New Economy programme.
The budget comes after Ghana completed the final review of its IMF-supported lending programme in July.
The Ghana Statistical Service figures show the economy grew by 6.0 per cent in the second quarter of 2026, while annual inflation stood at 5.2 per cent in September.
Dr Forson signalled the shift towards job creation in the July Mid-Year Fiscal Policy Review.
The November budget is expected to show which investments the government will prioritise in 2027 and how it intends to finance them while preserving the economic gains of the recovery.
After completing the IMF-backed ECF programme, the government has opted for the Policy Coordination Instrument (PCI), a non-funded assistance programme of the IMF.
Context
The presentation of the budget is stipulated by Article 179 of the 1992 Constitution.
It provides that “the President shall cause to be prepared and laid before Parliament — at least one month before the end of the financial year — estimates of the revenues and expenditure of the Government of Ghana for the following financial year.
In addition, the Public Financial Management (PFM) Act, 2016 (Act 921) provides the statutory framework for budget preparation, fiscal discipline, macro-fiscal policies, debt management and reporting, with specific roles assigned to the Minister of Finance.
