Finance Minister set present 2027 Budget on November 12 - Here's what to expect

Ghana’s Finance Minister, Dr Cassiel Ato Forson, is scheduled to present the 2027 Budget Statement and Economic Policy to Parliament on November 12, Deputy Finance Minister Thomas Nyarko Ampem has announced.

Ampem made this known at the launch of the Ghana Statistical Service’s Ghana in Numbers report in Accra, where he also highlighted the importance of reliable economic data in shaping national policies.

He hinted that the 2027 Budget would outline the government’s New Economy agenda, adding that the release of the statistical report was timely as preparations for the presentation continued.

The Deputy Finance Minister also urged the Ghana Statistical Service to provide all Members of Parliament with access to its data dashboard to enable them to make informed contributions to economic discussions and budget scrutiny.

He said the report would improve transparency in economic data and support evidence-based planning and policy decisions.

Meanwhile, the 2027 Budget is expected to place significant emphasis on job creation, economic transformation and spending aimed at stimulating growth as the government seeks to sustain recent economic gains.

The proposed theme, reportedly “New Economy, New Ghana: Jobs and Prosperity”, has yet to be officially confirmed.

A key policy focus is expected to be local value addition, with measures aimed at expanding domestic production, increasing export earnings and creating employment opportunities.

The government is also expected to make provision for the completion of ongoing infrastructure projects. However, total expenditure is projected to remain broadly in line with the estimates outlined in the 2026 Budget.

Fiscal discipline is expected to remain central to the government’s spending plans, with expenditure guided by its fiscal and debt sustainability framework. The approach is intended to limit excessive deficits and prevent spending overruns.

Dr Forson is also expected to consider adjustments to the primary surplus target to create additional room for priority expenditure while maintaining fiscal stability.

The anticipated measures would represent the next phase of the government’s economic policy following its ongoing fiscal adjustment programme.

Economic growth is projected to reach about five percent in 2027, while inflation is expected to be targeted at eight percent, with a tolerance band of two percentage points.

The medium-term policy direction is expected to balance fiscal and debt sustainability with investments designed to transform the economy, strengthen its resilience and expand employment opportunities.

The budget is also expected to outline measures to preserve macroeconomic stability and protect poor and vulnerable households from economic pressures.

MA