The Ghanaian government is set to prioritise job creation, increased productivity, and economic growth in its 2027 Budget. Deputy Finance Minister Thomas Nyarko Ampem stated that the next phase of the government's economic programme will focus on expanding employment opportunities, raising incomes, and building a competitive economy driven by technology and value addition. This move aims to turn recent improvements in economic stability into tangible benefits for Ghanaians.
Mr Nyarko Ampem made these comments at the launch of Ghana in Numbers 2025 in Accra on October 29. He cited economic growth of 6% in 2025 and 6.2% in the first half of 2026, alongside a decline in inflation from 23.8% in December 2024 to 5.2% in September 2026, as indicators of progress made in stabilising the economy. The Deputy Finance Minister emphasised that economic stability must now translate into improved livelihoods.
The 2027 Budget, scheduled to be presented to Parliament on November 12, will outline the government's policy and spending priorities for the year. A key focus will be on productivity, employment, and ensuring that macroeconomic gains lead to better living standards. The government aims to strengthen local businesses, add value to Ghana's natural resources, and create more opportunities for young people.
To achieve these goals, Mr Nyarko Ampem said the country must move away from relying heavily on raw material exports and build its capacity to produce and export higher-value goods and services. He argued that Ghana must shift from exporting raw materials to exporting value and from producing job seekers to nurturing innovators, entrepreneurs, and job creators.
The government's strategy involves creating an environment that fosters innovation and entrepreneurship. This includes investing in technology and value addition to increase productivity and competitiveness. By doing so, the government hopes to create more jobs and increase incomes, ultimately improving the standard of living for Ghanaians.
The presentation of the 2027 Budget will be crucial in setting out the government's priorities for the upcoming year. It is expected to provide details on the government's plans to address the country's economic challenges and create a more sustainable and equitable economy. The budget will also outline the government's spending priorities and policy initiatives for 2027.
The government's focus on job creation, productivity, and economic growth is a positive step towards addressing Ghana's economic challenges. With the right policies and strategies in place, the government hopes to create a more competitive and sustainable economy that benefits all Ghanaians.
Key points
- The 2027 Budget will prioritise job creation, productivity, and economic growth.
- The government aims to strengthen local businesses, add value to Ghana's natural resources, and create more opportunities for young people.
- The budget will be presented to Parliament on November 12, outlining the government's policy and spending priorities for 2027.
