The Finance Minister Dr Cassiel Ato Forson is expected to present the 2027 Budget on Thursday, November 12, 2026, outlining the spending points by his government for next year. But as part of this process, Ato Forson is expected to introduce a novel programme: A $10 billion New Economy Plan.
This New Economy Plan was first announced by President John Mahama three weeks ago during the Resetting Ghana Community Engagement in the Upper East Region, and then repeated during a courtesy call by chiefs of the Western North Region at the Jubilee House.
“When the Minister presents the 2027 Budget, he is going to announce what we call the New Economy Policy. The policy has selected nine areas, or nine pillars, in which the government is going to invest about US$2 billion every year for five years. That is a total of US$10 billion,” President Mahama said.
However in subsequent political messaging, the President now values this New Economy Programme at $9 billion.
“In this presentation, we will outline our plan for what we call the New Economy. This is a bold initiative that will seek to invest over $9 billion in job-rich sectors of the economy between 2027 and 2030,” the President Mahama told the gathering at the 2026 Hogbetsotso festival on Saturday.
What we know so far about the $9 or $10 billion New Economy Programme?
According to Mahama, the New Economy Investment Programme is expected to drive economic growth and create jobs as government shifts its focus from economic stabilisation to expanding opportunities for Ghanaians.
He also said the government would invest US$2.5 billion annually in the seven priority sectors over the next four years (2027 to 20230), resulting in a total investment of US$10 billion.
Agriculture and agro-processing would constitute the largest component of the investment, receiving 50% of the total allocation, equivalent to US$5 billion over the four-year period. He said the investment would support irrigation development, agricultural production and agro-processing, particularly to enable young people to engage in productive activities throughout the year.
The Finance Minister who is scheduled to present the budget to Parliament on Thursday will unveil the details of this New Economy programme.