Finance Minister, Dr Cassiel Ato Forson says the government’s New Economy programme will boost local production, reduce Ghana’s dependence on imports and create more jobs by directing investment towards productive sectors of the economy.
Speaking during a meeting with the leadership of the Association of Ghana Industries and leading captains of industry, he stated that, “our mission is to produce more of what we consume and create more jobs here at home.”
Dr Forson said every imported product must challenge the country to build the capacity to produce it locally.
“Every import is an opportunity to ask: why can’t we make it in Ghana?”
He said the New Economy represents a decisive shift towards a productive, job-creating and prosperous nation.
“That is the promise of the New Economy: Ghana producing. Ghanaians working. Prosperity growing!”
New Economy Programme
The programme, to be rolled out in the 2027 Budget, is expected to deploy about US$1.6 billion, equivalent to approximately one per cent of Gross Domestic Product (GDP), to develop strategic areas of the economy and create opportunities for the private sector to expand and generate jobs.
It forms part of the government’s broader strategy to channel resources into productive sectors capable of driving sustainable economic growth while generating returns that can support the repayment of investments over time.
Agriculture, mining and energy targeted
Dr Forson said priority areas under the framework would include commercial agriculture, mining value addition, energy and transport infrastructure.
He explained that the government was shifting its focus towards sectors with strong growth potential and the capacity to generate significant economic activity and employment.
The energy sector is expected to be a key component of the programme, with planned investments in gas-to-power and gas-to-fertiliser projects aimed at strengthening energy security and supporting industrial development.
In the transport sector, Dr Forson cited the Western Railway Line and other strategic infrastructure projects as areas that could receive support under the framework.
He, however, noted that the final blueprint was still being developed, with details of additional projects expected to be announced when the programme is formally launched.
