Minority demands accountability for 24-Hour Economy before rollout of New Economy agenda

The Minority in Parliament has called on the government to account for its existing economic programmes, particularly the 24-Hour Economy initiative, before introducing the proposed New Economy agenda in the 2027 Budget.

The Caucus insists that the government must provide evidence of its performance, including the number of jobs created and investments secured under its flagship initiatives, rather than introduce fresh promises without accounting for previous commitments.

Addressing the media ahead of the 2027 Budget presentation scheduled for Thursday, November 12, former Finance Minister and Karaga MP, Dr Mohammed Amin Adam, said the concern was not whether Ghana needed a new economic direction but whether the government had demonstrated the financial capacity and policy discipline to implement its commitments.

He argued that the current administration inherited an economic programme that had already begun implementation and was expected to deliver results, making it necessary for the government to explain its progress before introducing another framework.

“As the 2027 Budget approaches, the central issue is therefore not whether Ghana needs a new economy. We certainly do. The issue is whether the government has demonstrated the capacity, financing, and policy discipline to deliver one, especially when it inherited a programme which had already taken the tough decisions, started implementation, and was delivering the anticipated results.

“Ghanaians deserve more than another catalogue of promises. They deserve a credible plan, backed by realistic financing, measurable outcomes, and accountability for results. Therefore, before announcing a new economy, the government must first account for the promises of the old one,” he said.

Finance Minister Dr Cassiel Ato Forson is expected to present the 2027 Budget Statement and Economic Policy to Parliament under the theme “New Economy”, which outlines a 4-year economic transformation programme.

Dr Amin questioned the progress of the government's 24-Hour Economy programme, launched in July 2025 with a projected investment target of US$4 billion and an initial government seed capital commitment of between US$300 million and US$400 million.

The initiative was expected to generate 1.7 million jobs by the end of 2028 through its “One Job, Three Shifts, Three Workers” model.

However, the Karaga MP claimed that the government had yet to mobilise the projected US$4 billion and had made an allocation of only GH¢110 million to the programme in the 2026 Budget.

He also raised concerns about the government's reliance on joint development agreements reportedly valued at US$5.5 billion, arguing that such agreements should not be presented as funds already secured and disbursed for project implementation.

Dr Amin further questioned the government's decision to re-designate the planned 24-Hour Economy markets as district economy markets, saying the change had affected the original implementation schedule.

He noted that the markets, initially expected to be completed in 2026, had been reorganised into 2 phases, pushing the projected completion date to 2028.

The Minority is therefore demanding a detailed account of the government's existing economic commitments, including their financing arrangements, implementation progress and measurable outcomes, before the administration seeks public support for its proposed New Economy programme.