Finance Minister Dr Cassiel Ato Forson will today, Thursday, November 12, present the 2027 Budget Statement and Economic Policy to Parliament — an address the government hopes will bring excitement to Ghanaians for the year ahead.
In an unusual departure from tradition, the presentation will take place at 6pm.
Ahead of the address, the Ajumako-Enyan-Essiam Member of Parliament has been giving Ghanaians a preview of what to expect, touting the gains made under his watch and unveiling what he calls “the New Economy.”
“Ghana’s credit ratings are up, and we’re setting our sights higher,” he said. “With the New Economy, we’re aiming for investment grade to make it easier for Ghanaian businesses to raise capital, expand and create jobs.”
In a countdown series of posts online, Dr Forson described the plan ahead of the exercise, which he is undertaking on behalf of the President.
“In seven days, we unveil the New Economy, our plan to turn Ghana’s recovery into decent jobs, better incomes and opportunities for Ghanaian businesses to grow!” he said.
Gold to be refined in Ghana
A key plank of the New Economy, according to the minister, is keeping the value of Ghana’s gold at home rather than shipping it abroad. He noted that for decades, Ghana — now Africa’s largest gold producer — has “sent our gold abroad for others to refine.”
“It is time to refine it here in Ghana, create jobs, grow local businesses and position Ghana as a gold refining hub for West Africa,” he said.
22 laws to lock in reforms
Dr Forson also disclosed that since taking office, the government has introduced about 22 laws to make the reforms permanent and protect the stability Ghanaians have sacrificed to achieve.
“Our aim is to ensure that no future government takes Ghana back to the pain and hardship of the 2022–2024 crisis,” he said.
He argued that the governing National Democratic Congress (NDC) has departed from reckless spending, directing money to “the right places, on the right things, without wasting public resources.”
“Timely releases to statutory funds mean honouring our obligations, respecting the law and breaking the cycle of arrears. Every cedi must serve the people,” he added.
Stakeholder engagements across the country
To carry the government’s message to various sectors and groups, the minister has engaged a wide range of stakeholders, including the National House of Chiefs.
At that meeting, he explained that the New Economy is the government’s four-year programme to transform the structure of the Ghanaian economy, insisting: “We cannot ask a new generation to build its future on a pattern that has left so many of their parents behind.”
Dr Forson also paid a visit to the Manhyia Palace, where he engaged the Asantehene, Otumfuo Osei Tutu II, before meeting stakeholders at the Kwame Nkrumah University of Science and Technology (KNUST), where he “reaffirmed our determination to turn economic stability into lasting jobs, better incomes and opportunities worthy of the talents of our young people.”
Earlier, he told students and faculty at the University of Ghana that the New Economy will turn “the sacrifices of recovery into the dignity of decent work, higher incomes and prosperity that reaches every Ghanaian.” He has also taken the message to the Nyankpala Campus of the University for Development Studies.
DACF released in full
In Tamale in the Northern Region, the minister’s first stop was a meeting with Regional Ministers, MMDCEs and Coordinating Directors on strengthening financial accountability across the country’s MMDAs.
There, he announced that government has released the third quarter of the District Assemblies Common Fund (DACF).
“This means we are fully up to date, with all three quarters paid. This is a major shift from the past, and a clear demonstration of our commitment to timely releases and stronger local governance!” he said.
GH¢24.8bn paid into statutory funds
On his social media handles, Dr Forson said government has paid GH¢24.8 billion into statutory funds since January 2026 to support schools, healthcare, roads and local development.
“Unlike in the past, when payments were marked by delays, capping and arrears, we now release these funds on time and in full,” he said. “This ensures statutory funds have the money they need to provide the essential services required by law.”
He further noted that the International Monetary Fund (IMF) has upgraded Ghana’s 2026 growth forecast from 4.6 per cent to 5.7 per cent, expressing confidence that “we will exceed that projection.”
In Bangkok, the minister said he met the IMF’s African Department Director, Zeine Zeidane, and reaffirmed Ghana’s commitment to “the fiscal credibility, discipline and bold reforms powering Ghana’s economic turnaround.”
By Gifty Boateng