Dr. Cassiel Ato Forson, the Minister of Finance, will present the 2027 Budget to Parliament on November 12, Deputy Finance Minister Thomas Nyarko Ampem announced. The announcement was made during the release of the Ghana Statistical Service's Ghana in Numbers report in Accra. The report's release is timely, as preparations for the budget presentation continue. Mr. Ampem urged the Ghana Statistical Service to provide every Member of Parliament with access to its dashboard to support informed debate in the House.
The 2027 budget will outline the government's New Economy agenda, with a focus on job creation, economic transformation, and growth-focused spending. The government aims to consolidate recent economic gains and move Ghana beyond stabilization towards sustained growth and employment. Sources familiar with the preparations indicate that Dr. Forson is likely to outline measures to boost local value addition, production, export earnings, and jobs.
The proposed theme for the budget is "New Economy, New Ghana: Jobs and Prosperity," although this has yet to be confirmed. The policy direction is expected to prioritize local value addition to boost production, export earnings, and jobs. Significant allocations are expected to complete ongoing infrastructure projects, while overall spending is not expected to depart substantially from the estimates outlined in the 2026 Budget.
The budget could target economic growth of about 5% in 2027 and inflation of 8%, with a two-percentage-point tolerance band. The medium-term strategy is expected to preserve fiscal and debt sustainability while creating space for investments that support economic transformation. Sources say the measures will also seek to safeguard macroeconomic stability, strengthen resilience, and protect poor and vulnerable households.
The New Economy Programme is expected to be central to the budget, with a greater emphasis on growth-focused spending alongside continued fiscal discipline. The government intends to use the programme to expand economic opportunities and support employment. Dr. Forson is also expected to stress the need for continued discipline and commitment to sustain recent gains.
Priority areas identified in the New Economy blueprint include macroeconomic stability, commercial agriculture, agro-industry and agribusiness, energy sector reforms and investment, critical minerals and value addition, cotton, textiles and garments, and tourism, culture, and the creative arts. The budget may also outline plans to lower the primary surplus target to create additional room for priority spending.
Dr. Forson's presentation of the 2027 budget will come after the International Monetary Fund (IMF) upgraded Ghana's growth forecast. The government is optimistic about meeting the IMF's forecast, with Dr. Forson recently stating that Ghana will beat the IMF's upgraded 5.7% growth forecast. The budget presentation is expected to provide further insights into the government's economic plans and priorities for the coming year.
Key points
- The 2027 budget will focus on job creation and economic transformation.
- The budget is expected to outline measures to boost local value addition and production.
- The government aims to achieve economic growth of about 5% in 2027.
