Finance Minister Cassiel Ato Forson has announced plans to invest GH¢30 billion in the New Economy programme in 2027 to expand businesses, increase exports and create jobs.
Presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, Ato Forson said the investment would lay the foundation for Ghana’s economic transformation while advancing 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 undermining macroeconomic stability or reversing the gains made in stabilising the economy.
To ensure accountability, the Finance Minister said all projects under the programme would undergo rigorous appraisal and value-for-money assessments.
He added that government expenditure would be properly budgeted, authorised and transparently reported, with public resources channelled into strategic assets and projects capable of delivering wider economic benefits.
Commercial agriculture is expected to receive a significant share of the planned investment, reflecting the government’s position that the sector is critical to economic growth, job creation and export expansion.
“Next year, we will invest GH¢30 billion into the New Economy. This will finance the foundation for the economic transformation needed to expand businesses, increase exports and create jobs for the Ghanaian people. Out of the US$10 billion equivalent, US$3 billion of that amount will be invested in Pillar Two, Commercial Agriculture,” he said.
According to Ato Forson, the benefits of commercial agriculture extend beyond farming to include transportation, processing, packaging, trade and other rural services that stimulate economic activity.
He, however, noted that Ghana continues to spend billions of dollars importing food and agricultural products that could be produced competitively locally.
He warned that the country’s dependence on such imports puts pressure on the cedi, exposes the economy to external price shocks and limits opportunities for domestic businesses and communities.
Ato Forson argued that reducing avoidable food imports would unlock opportunities across the agricultural value chain, including financing farmers, reviving factories, generating transport contracts and creating employment.
“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.
