Ghana's Minority Questions Government's New Economy Agenda

The Minority in Ghana's Parliament has expressed concerns about the government's proposed New Economy agenda, citing weak revenue mobilisation as a major challenge. Dr Mohammed Amin Adam, Ranking Member on Parliament's Finance Committee, argued that the initiative risks becoming another political slogan if the government fails to generate sufficient revenue to finance its projects and policies. He made these comments at a press conference ahead of the presentation of the 2027 Budget.

Dr Amin Adam pointed to economic realities confronting ordinary Ghanaians, including declining sales for traders, struggling farmers, and reduced producer prices for cocoa farmers. He questioned the difference between headline inflation figures and the actual cost of living, arguing that the reported inflation rate does not capture the financial pressures experienced by Ghanaians. The former Finance Minister also criticised the government's salary adjustments for public sector workers.

The government's salary adjustments for public sector workers have been a point of contention, with Dr Amin Adam noting increases of 10% in 2025 and 9% in 2027 and 2028. He contrasted these adjustments with the nearly 30% salary increase granted in 2024, when Ghana was experiencing an economic crisis. Dr Amin Adam's comments highlight concerns about the government's ability to implement its economic agenda.

Dr Amin Adam questioned the government's proposed funding arrangements for the New Economy programme, arguing that additional fiscal space will still have to come from revenue collected from Ghanaians. He stated that Ghanaians are already experiencing a "new economy" due to prevailing economic conditions. The Minority Ranking Member warned that the proposed economic transformation agenda could encounter implementation difficulties if revenue mobilisation challenges persist.

The government's 24-Hour Economy programme has faced implementation challenges, and Dr Amin Adam warned that the New Economy programme may face similar difficulties. He cited poor revenue performance as a factor affecting the execution of some flagship government initiatives. The Minority in Parliament will be watching the government's 2027 Budget presentation closely.

The government is expected to present its economic priorities, revenue projections, and expenditure plans when the 2027 Budget is laid before Parliament. Dr Amin Adam's comments reflect concerns about the government's ability to implement its economic agenda and the potential impact on Ghanaians. The budget presentation will provide insight into the government's plans for revenue mobilisation and economic growth.

The New Economy agenda has sparked debate in Ghana, with the Minority in Parliament expressing concerns about its implementation. The government's ability to generate sufficient revenue will be crucial to the success of the programme. As Ghana prepares for the 2027 Budget presentation, all eyes will be on the government's plans for economic growth and revenue mobilisation.

Key points

• The Minority in Ghana's Parliament has expressed concerns about the government's proposed New Economy agenda, citing weak revenue mobilisation as a major challenge.