New Economy programme to boost local production and create jobs-Ato Forson
Finance Minister Dr Cassiel Ato Forson says the government’s New Economy programme will focus on boosting local production, reducing dependence on imports and creating more jobs by directing investment into productive sectors.
According to him, the programme will encourage Ghana to assess the potential of producing goods locally rather than relying on imports, particularly in areas where the country has the capacity to build competitive industries.
“Every import is an opportunity to ask: why can’t we make it in Ghana?” Dr Forson said.
He explained that the government’s goal is to build an economy where increased domestic production drives job creation and strengthens economic activity.
The programme, expected to be outlined in the 2027 Budget, is projected to involve about US$1.6 billion in investment, representing roughly one per cent of Ghana’s Gross Domestic Product (GDP).
The initiative forms part of the broader New Economy agenda, which the government says is aimed at moving the country beyond macroeconomic stabilisation towards increased production, job creation and wealth generation.
Key priority areas under the programme include commercial agriculture, value addition in the mining sector, energy and transport infrastructure.
Proposed investments in gas-to-power and gas-to-fertiliser projects are expected to improve energy security and support industrial development, while infrastructure projects such as the Western Railway Line could also receive attention.
Dr Forson said the strategy represents a deliberate shift towards sectors capable of expanding economic activity, creating employment and providing opportunities for private-sector investment.
He said the government expects businesses to expand production, increase exports and create more jobs as the next phase of the economic programme unfolds.
Speaking at a meeting with the leadership of the Association of Ghana Industries and leading industry players, Dr Forson said the government’s objective is to ensure that more of the goods consumed by Ghanaians are produced locally.
“Our mission is to produce more of what we consume and create more jobs here at home,” he said.
“That is the promise of the New Economy: Ghana producing. Ghanaians working. Prosperity growing!”
By Esther Padmore Amonoo
