Ghana's 2027 Budget to Unveil $10bn New Economy Plan
Ghana's Finance Minister, Dr Cassiel Ato Forson, will present the 2027 Budget to Parliament on Thursday, 12 November, setting out how the government plans to turn economic recovery into jobs, higher incomes and business growth.
At the centre of the budget is the New Economy programme, a four-year investment plan worth about $10 billion running from 2027 to 2030. Announced by President John Dramani Mahama, it will target seven priority areas, including commercial agriculture, energy reforms, critical minerals, textiles, tourism and pharmaceutical manufacturing.
The plan commits the equivalent of 1.5 percent of GDP each year. Funding is expected to come from additional revenue worth 0.5 percent of GDP and from space created by cutting the primary surplus target from 1.5 percent to 0.5 percent of GDP, a change the International Monetary Fund confirmed in its statement on 5 November.
The budget arrives after Ghana completed the final review of its $3 billion IMF Extended Credit Facility in July. A successor arrangement, a Policy Coordination Instrument, offers continued IMF monitoring but no new financing. Official figures show the economy grew by 6.0 percent in the second quarter of 2026, while inflation has cooled to 5.5 percent.
Questions remain before the presentation. The Finance Ministry document reviewed by JoyNews Research does not yet name specific projects or say how the money will be shared out, and the IMF staff agreement still needs approval from IMF management and its Executive Board.
The government also faces a demanding repayment calendar, with GH¢58 billion in domestic debt exchange bond maturities falling due in 2027 and GH¢53 billion in 2028. A government sinking fund reported at GH¢15.6 billion in late July has been set up to help meet those obligations, but questions over how it is accounted for remain unresolved.
[Source: accralive.com](https://accralive.com/2027-budget-ghana-what-to-watch/) | [Source: ghanaguardian.com](https://ghanaguardian.com/ghanas-us10bn-new-economy-plan-to-focus-on-jobs-and-business-growth/)
