Finance Minister Dr Cassiel Ato Forson has announced that the government will invest GH¢30 billion in the New Economy programme in 2027 as part of efforts to accelerate economic growth, expand businesses, boost exports and create employment opportunities across Ghana.
Presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, 2026, Dr Ato Forson said the investment would provide the foundation for Ghana’s economic transformation while supporting the government’s broader development agenda.
He explained that the funding strategy would cover the 2027–2030 period, with the government committed to financing its economic transformation programmes without compromising macroeconomic stability or reversing the progress achieved in stabilising the economy.
The Finance Minister stressed that accountability and prudent financial management would remain central to the implementation of the New Economy programme.
According to him, all projects under the initiative would undergo strict assessments, including comprehensive project appraisals and value-for-money evaluations, to ensure that public funds deliver meaningful economic benefits.
He further assured Parliament that government spending would be properly budgeted, authorised and transparently reported, with resources directed towards strategic investments capable of generating long-term economic growth.
Commercial Agriculture to Receive US$3 Billion Investment
A significant portion of the New Economy investment will be allocated to commercial agriculture, which the government considers a major driver of economic development, job creation and export growth.
Dr Ato Forson disclosed that approximately US$3 billion out of the US$10 billion equivalent funding commitment would be channelled into Pillar Two of the programme, focusing on commercial agriculture.
“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 stated.
He explained that investing in commercial agriculture would generate economic opportunities beyond crop production and livestock farming.
The sector is expected to stimulate activities across several industries, including transportation, agro-processing, packaging, distribution, domestic trade and other rural economic services.
Government Targets Reduction in Food Imports
The Finance Minister also raised concerns about Ghana’s continued dependence on imported food and agricultural products, noting that the country spends billions of dollars annually importing commodities that could be produced competitively within the domestic economy.
He warned that excessive reliance on food imports places additional pressure on the Ghanaian cedi, exposes the country to international price fluctuations and limits the growth potential of local businesses and agricultural communities.
Dr Ato Forson argued that reducing unnecessary food imports would create significant opportunities throughout Ghana’s agricultural value chain.
He said increased investment in local agricultural production could improve access to financing for farmers, revive struggling factories, expand agro-processing activities, generate transportation contracts and create thousands of employment opportunities.
“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.
The government’s GH¢30 billion New Economy investment is therefore expected to strengthen domestic production, promote agricultural industrialisation, support local businesses and reduce Ghana’s dependence on imported food products.
The initiative forms part of the broader economic transformation strategy outlined in the 2027 Budget, with commercial agriculture positioned as a key driver of sustainable economic growth, export expansion and employment creation.
Source: newsthemegh.com