The government has signalled a major shift towards domestic processing and value addition as part of efforts to reduce Ghana’s dependence on raw commodity exports and create more productive jobs.
Finance Minister Dr Cassiel Ato Forson outlined the policy direction when he presented the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, 2026.
He said Ghana continued to depend heavily on raw material exports, adding that the country needed to retain more economic value by processing its resources locally.
“We depend too heavily on raw material exports, add too little value at home and create too few productive jobs for our people,” he said.
The Minister said the New Economy Programme, which will run from 2027 to 2030, would support increased domestic production, local processing and industrial expansion.
The programme will focus on eight pillars: commercial agriculture, energy infrastructure, critical minerals value addition, textiles and garments, pharmaceuticals and biomanufacturing, tourism, culture and creative arts, and the technology economy, alongside macroeconomic stability and affordable finance.
Dr Forson said agriculture must supply food and industrial raw materials, while the textiles and garments sector must expand local production and connect Ghanaian enterprises to global markets.
He also said the government intended to strengthen pharmaceutical and biomanufacturing capacity to boost local production and supply markets across Africa.
The Minister said the private sector would lead investment, innovation and production, while the government would provide strategic infrastructure and create an enabling environment for business growth.
The government plans to invest the equivalent of US$10 billion over four years under the New Economy Programme.
The initiative is aimed at increasing the country’s productive capacity, creating employment and generating more value from Ghana’s natural and agricultural resources.
DR/MA
LIVE: Dr Cassiel Ato Forson is presenting the 2027 Budget Statement and Economic Policy
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