Presenting the 2027 budget before Parliament on Thursday, November 12, Finance Minister Dr. Cassiel Ato Forson took a moment to reflect on the Mahama administration’s second-term achievements and to lay out an ambitious vision for Ghana’s economic future.
Dr. Forson spoke with optimism, declaring that “Ghana has made significant gains and has emerged from the most painful economic crisis in our history. Stability has returned. Confidence is back.” He assured Ghanaians that, under President John Dramani Mahama, the nation’s economy has found its footing. “Ghanaians can breathe again,” he said, while cautioning that the nation must make wise choices about how to use this newfound breathing space to shape a better future.
But the Finance Minister did not shy away from Ghana’s difficult past. He recounted the hardships endured by ordinary people: economic progress that was fleeting, cycles of hope and hardship, growth and instability, and the pain of repeated corrections and job losses. “These boom-and-bust cycles must cease,” Dr. Forson insisted. “We owe [the Ghanaian people] something greater than recovery. We owe them a country that honours their sacrifices and ensures that the hardship they have endured does not become their children’s inheritance.”
Dr. Forson detailed the administration’s reforms since 2025, citing falling inflation (from 23.8% to 5.4%), a turnaround to a budget surplus, a decline in public debt to 44.7% of GDP, and improved international reserves. These achievements, he explained, have brought certainty to households and businesses alike, allowing Ghana to move beyond crisis management and look toward true transformation.
Yet, Dr. Forson acknowledged that stability alone is not enough. “No statistic can refund the years families lost to instability,” he said. The real reward for Ghanaians’ sacrifices will be lasting production, jobs, rising incomes, and opportunity.
Looking ahead, the Finance Minister unveiled the government’s “New Economy” agenda—a four-year programme beginning in 2027 designed to break the cycle of instability and create a modern economy. Dubbed “The New Economy: New Ghana, Jobs and Prosperity,” the initiative aims to expand production, increase local processing of resources, and generate decent jobs and higher incomes for lasting prosperity. The government plans to invest US$10 billion between 2027 and 2030 in pursuit of this vision.
“As Ghana turns 70, we owe the next generation an economy worthy of the freedom we inherited and the sacrifices our people have made,” Dr. Forson declared, rallying Parliament and the public to support the ambitious New Economy agenda. With his closing words, “Aban papa aba!”—“A good government has come!”—Dr. Forson celebrated the administration’s achievements and looked forward to a brighter future for all Ghanaians.
Source: Apexnewsgh.com