Ghana Launches US$10 Billion New Economy Investment Plan

Finance Minister Cassiel Ato Forson presented the 2027 Budget Statement and Economic Policy to Parliament on November 12, 2026, introducing the New Economy Programme. This US$10 billion investment initiative, announced by President John Dramani Mahama, spans from 2027 to 2030 and aims to shift Ghana from macroeconomic stabilization toward productivity and inclusive growth. The plan targets a real GDP growth rate of 8% by 2030, a significant increase over previous targets.

The program focuses on eight strategic pillars, including commercial agriculture, pharmaceuticals, textiles, tourism, and critical minerals. Specific projects include a 200-acre textile and garment industrial zone in Keta within the Volta Region. To fund the initiative without relying on expensive international borrowing, the government will prioritize domestic resource mobilization and reduce its primary surplus target from 1.5 percent to 0.5 percent of GDP. For the 2027 financial year alone, the government will invest GH¢30 billion.

This strategic pivot follows a period of recovery, including the completion of a US$3 billion International Monetary Fund program in July 2026 and a 6 percent growth rate in 2025. However, the New Patriotic Party minority in Parliament challenged the plan, with Ranking Member Mohammed Amin Adam demanding accountability for the previous 24-Hour Economy initiative, alleging that its promised US$4 billion investment was never raised and its results were negligible.