On 12 November 2026, Finance Minister Dr Cassiel Ato Forson told Parliament that Ghana will spend about US$10 billion between 2027 and 2030 on a "New Economy," resting on eight pillars. For 2027 alone, GH¢30 billion, or 1.5 per cent of GDP, is set aside.
I am a young Ghanaian, a writer and a student, not an economist. But a budget belongs to the trader at Makola and the graduate without a job, not only to those who present it. So let me speak for them, with facts.
How far we have come
In 2022, inflation closed at 54.1 per cent and reserves fell below three weeks of import cover. By the end of 2025, inflation was 5.4 per cent and the primary balance had moved from deficit to a surplus of 2.5 per cent of GDP. That is real progress. But stability is a floor, not a house. A floor does not shelter anyone.
The eight pillars, quickly
- Stability and affordable finance. The targets are a primary surplus of at least 0.5 per cent of GDP and debt consistent with 45 per cent of GDP. Yet next year's interest bill is GH¢61 billion. How cheap can lending to the market woman really be?
- Commercial agriculture. At US$3 billion, it is the biggest pillar, with a goal to end commercial rice imports by 2030. It is the right bet, since agriculture is about 40 per cent of jobs. But success needs roads, storage and fair prices, not just announcements.
- Energy. A 24-hour economy needs reliable power. Energy Minister Dr John Abdulai Jinapor has said oil output has fallen from roughly 71 million barrels a year to about 37 million. We need hard reform, not hope.
- Critical minerals. Processing at home beats exporting raw ore. The new Ghana Sovereign Wealth Fund will merge two existing funds. A fund is only as honest as the people who guard it, so Ghanaians deserve public reports.
- Tourism and creative arts. US$1 billion for the Black Star Experience. As a creative, I say let the money reach actual artists, through funding, copyright protection and venues.
- Textiles and garments. Another US$1 billion. Revival needs cheap power and protection from cheap imports.
- Pharmaceuticals. An estimated 70 to 75 per cent of our medicines are imported. Local production is a matter of national security.
- Technology. US$300 million for 2027 to 2028. The most exciting pillar for my generation, and the most modestly funded. If connectivity does not reach rural Ghana, it will serve the city only.
The numbers
The budget plans spending of GH¢389.2 billion against revenue of GH¢323.4 billion, a cash deficit of 3.6 per cent of GDP, and no new taxes. Growth is targeted at 5.2 per cent for 2027 but about 8 per cent by 2030. What closes that gap?
Questions for the debate
How many jobs will each pillar create, by name and by region, and who will publish the count? Will private investors truly come? Will this programme outlive the next election? And will ordinary people feel it, or will it only live in reports?
The other side
Supporters say Ghana is climbing out of a debt crisis and that choosing production over consumption is right. Critics say targets are easy to announce and hard to deliver, and that heavy interest costs limit what any budget can do. Both have a point.
My conclusion
The list has the right names: food, power, minerals, culture, clothes, medicine and technology. Now it needs the right habits: publish the data, protect the funds, finish the projects. Let us measure success by how many Ghanaians are employed and how much their incomes rise. As we near 70 years of independence, we cannot afford another beautiful plan that lives only in speeches.
Chief Tutu Baffour Asare Brownsy Williams is an author, columnist and filmmaker based in Accra, Ghana, and founder of Brownsy Silva Company.
Sources: 2027 Budget Statement as reported by Graphic Online, MyJoyOnline, Citi Newsroom, 3News, GhanaWeb, GBC and Adom FM (12 November 2026); GhanaWeb report on the Energy Minister's remarks (November 2026).



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