Finance Minister Dr Cassiel Ato Forson says the government’s New Economy programme will prioritise local production, job creation and investment in productive sectors as part of efforts to reduce Ghana’s dependence on imports.
According to him, the strategy will encourage the country to assess imported goods not only in terms of their cost but also the opportunities they present for domestic production.
“Every import is an opportunity to ask: why can’t we make it in Ghana?” Dr Forson said, stressing that increased local production could generate employment and stimulate broader economic activity.
The New Economy programme, expected to be outlined in the 2027 Budget, is projected to deploy about US$1.6 billion, equivalent to roughly one per cent of Ghana’s GDP, into strategic sectors of the economy.
The initiative forms part of the government’s broader plan to move the economy beyond macroeconomic stabilisation towards increased production, employment and wealth creation.
Commercial agriculture, value addition in the mining sector, energy and transport infrastructure are among the priority areas identified under the programme.
Planned investments in gas-to-power and gas-to-fertiliser projects are expected to strengthen energy security and support industrial activity. Major infrastructure projects, including the Western Railway Line, could also form part of the investment drive.
Dr Forson said the government intends to channel resources into sectors capable of expanding economic activity while creating opportunities for private-sector investment and growth.
Speaking during a meeting with the leadership of the Association of Ghana Industries (AGI) and some leading captains of industry, the Finance Minister said the government wants businesses to increase production, expand exports and create more jobs as the country enters the next phase of its economic programme.
“Our mission is to produce more of what we consume and create more jobs here at home,” he said.
“That is the promise of the New Economy: Ghana producing. Ghanaians working. Prosperity growing!”
