The Minister of Finance, Dr Cassiel Ato Forson, has called on the National House of Chiefs to support the government’s proposed New Economy Agenda aimed at transforming the country’s economic structure to create sustainable jobs.
Addressing members of the National House of Chiefs in Kumasi yesterday, Dr Forson said the country needed to move from an economy dependent on raw material exports to one driven by local production, value addition and private-sector growth.
He said the initiative was intended to translate economic recovery into productive investment, decent jobs and improved incomes for Ghanaians.
Dr Forson said Ghana’s population had grown by about 16 million over the past 25 years, while the economy had failed to create enough jobs to absorb the growing number of young people entering the labour market.
He said although access to education had expanded, many graduates continued to struggle to find employment, stressing the need to align education and skills development with the demands of the economy.
The minister said President John Dramani Mahama had tasked him to develop a four-year programme to transform the economy by increasing domestic production, adding value to local resources and creating sustainable employment.
He said details of the initiative would be presented to the public on Thursday, November 12, 2026, at the presentation of the 2027 Budget Statement to Parliament.
Dr Forson said temporary employment programmes, including the Nation Builders Corps (NABCO) and the Youth Employment Agency (YEA), could not provide a lasting solution to unemployment, adding, “their future cannot depend on moving from one temporary opportunity to the next.”
He said the youth needed sustainable livelihoods for which the private sector must lead in job creation, with government policies and investments supporting businesses to expand production, access larger markets and employ more people.
Dr Forson also said that greater investment in local industries would help to reduce dependence on imported goods, strengthen domestic production and create opportunities for young entrepreneurs.
The minister warned, however, that failure to address unemployment could deepen social frustration and push more young citizens to seek opportunities abroad, making it imperative for the country to build an economy that offers young people a promising future at home.
He also pledged to ensure fiscal discipline and value for money in public expenditure, stressing that every cedi spent by the government must deliver meaningful benefits to the people.
Commendation
The President of the National House of Chiefs, Ogyeahoho Yaw Gyebi, commended Dr Forson for his efforts to stabilise the economy and to restore confidence, particularly in relation to the exchange rate.
He said prudent financial management was essential to sustaining the gains despite concerns about the amount of money in circulation.
Ogyeahoho Gyebi also expressed the hope that the forthcoming national budget would introduce measures to stimulate economic growth, address youth unemployment and create sustainable job opportunities.
He stressed that economic recovery must translate into improved livelihoods and greater opportunities, particularly for young people.
The traditional ruler further underscored the importance of ensuring that economic policies delivered tangible benefits to communities across the country, urging the government to sustain its efforts to improve living standards and expand employment opportunities.
