Finance Minister Dr. Cassiel Ato Forson has emphasized that the interest of the Ghanaian people will remain the government's foremost priority in preparing the 2027 Budget. As budget hearings with ministries, departments, and agencies conclude, Dr. Forson stated that every spending decision and policy choice would be guided by the needs and aspirations of Ghanaians. He made this statement as the government assesses the priorities and spending plans of state institutions to align them with the New Economy programme.
The 2027 Budget is expected to be a seminal policy document outlining the government's US$10 billion New Economy programme. President John Dramani Mahama has described the programme as a "game changer" for Ghana, which aims to move the country beyond economic stabilization and deliver jobs and prosperity. The programme is expected to drive job creation, support businesses, expand infrastructure, and accelerate Ghana's economic transformation.
The ongoing budget hearings are helping the government assess the priorities and spending plans of state institutions and align them with the New Economy programme. Dr. Forson stated that through every hearing and every decision, one principle remains non-negotiable: the interest of the Ghanaian people comes first. This approach is expected to ensure that the budget addresses the needs and aspirations of Ghanaians.
The budget is expected to set out the key sectors, investments, and policy interventions that will drive job creation, support businesses, expand infrastructure, and accelerate Ghana's economic transformation. Several options are being considered by the government to cushion consumers against fuel price hikes. Additionally, the 2027 Budget is expected to target nine sectors to create jobs.
UNICEF has called for a dedicated child protection allocation in the 2027 budget. Furthermore, Dr. Ato Forson has promised jobs and a major infrastructure push in the 2027 Budget, which is expected to be presented in the first week of November. The government is also reforming efforts to improve the financial performance of State-Owned Enterprises (SOEs).
The domestic debt increased by GH¢57 billion to GH¢391 billion in June 2026, with the total public debt now standing at GH¢719.5 billion. The government has also raised GH¢3.15 billion in a 4-year bond at 12%. A five-pillar plan has been unveiled to build a resilient economy.
Revenue performance has improved but is still below target, with expenditure lines also below target. The government is working to restore economic stability and secure the future. Deputy Finance Minister stated that "we have stabilized the present; now we must secure the future."
Key points
- The 2027 Budget will prioritize the interest of Ghanaians and target nine sectors to create jobs.
- The budget will outline the government's US$10 billion New Economy programme.
- The government is considering options to cushion consumers against fuel price hikes.
