New Economy Programme to Drive Local Production, Job Creation – Ato Forson
The programme, expected to be rolled out in the 2027 Budget, will channel about US$1.6 billion into strategic sectors including agriculture, mining, energy and transport.
- New Economy targets local production
- US$1.6bn planned for strategic sectors
- Agriculture, mining, energy and transport targeted
Finance Minister Dr Cassiel Ato Forson says the government’s proposed “New Economy” programme will boost local production, reduce Ghana’s dependence on imports and create more jobs.
Speaking during a meeting with the leadership of the Association of Ghana Industries (AGI) and other industry leaders, Dr Forson said the programme would direct investment towards productive sectors of the economy.
“Our mission is to produce more of what we consume and create more jobs here at home,” he said.
He said every imported product should prompt the country to explore ways of producing it locally.
“Every import is an opportunity to ask: why can’t we make it in Ghana?” he said.
According to Dr Forson, the New Economy programme represents a shift towards a more productive and job-creating economy.
The programme, which is expected to be rolled out in the 2027 Budget, is projected to deploy about US$1.6 billion, equivalent to approximately one percent of Gross Domestic Product (GDP), into strategic areas of the economy.
The initiative is expected to support private sector expansion and create jobs while directing resources towards sectors capable of generating sustainable economic growth.
Priority areas will include commercial agriculture, mining value addition, energy and transport infrastructure.
Dr Forson said the government is focusing on sectors with strong growth potential and the capacity to generate significant economic activity and employment.
The energy component is expected to include investments in gas-to-power and gas-to-fertiliser projects to strengthen energy security and support industrial development.
In transport, he cited the Western Railway Line and other strategic infrastructure projects as areas that could receive support.
He noted, however, that the final blueprint is still being developed, with details of additional projects expected to be announced when the programme is formally launched.
