Finance Minister Dr Cassiel Ato Forson has announced that the government will invest GH¢30 billion in its New Economy programme in 2027, with a significant portion earmarked for commercial agriculture to boost local production, expand businesses and create jobs.
Presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, Ato Forson said the investment forms part of a broader US$10 billion economic transformation agenda covering the 2027–2030 period.
He explained that the programme is intended to lay the foundation for a stronger economy by supporting strategic sectors, increasing exports and creating opportunities for Ghanaian businesses while maintaining the macroeconomic stability achieved in recent years.
According to the Finance Minister, US$3 billion of the planned US$10 billion investment will be directed towards commercial agriculture, which government considers a major driver of economic growth and employment.
“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,” he told Parliament.
Dr Ato Forson noted that the agricultural investment would extend beyond farming to cover transportation, processing, packaging, trade and other rural services that contribute to economic activity.
He expressed concern about Ghana’s continued reliance on imported food and agricultural products, arguing that the situation places pressure on the cedi, exposes the country to external price shocks and deprives local businesses of opportunities to grow.
He said reducing imports of products that could be competitively produced locally would help strengthen domestic industries, create employment and improve economic resilience.
“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,” Dr Ato Forson stated.
The Finance Minister further assured Parliament that the New Economy investments would be subjected to strict appraisal and value-for-money assessments to ensure accountability and transparency.
He added that government expenditure under the programme would be properly budgeted, authorised and reported, with public funds directed towards projects capable of delivering lasting economic benefits.
