The government has set an ambitious target to achieve real gross domestic product (GDP) growth of approximately 8 per cent while pushing the national unemployment rate below 8 per cent by 2030.
These projections form the core of the administration’s New Economy programme, which was unveiled by Finance Minister Dr Cassiel Ato Forson during the presentation of the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, 2026.
Having recently completed its International Monetary Fund (IMF) programme, the administration says its focus has now shifted squarely towards structural economic transformation. Under the New Economy blueprint, commercial agriculture, energy, critical minerals, textiles and garments, tourism, and pharmaceuticals have been earmarked as priority sectors to drive this expansion.
Addressing lawmakers, Dr Forson explained that alongside growth and job creation, the government is working to place the nation on a solid trajectory towards achieving an investment-grade sovereign credit rating.
“By 2030, we are targeting real GDP growth of about 8%, unemployment below 8%, and a credible path to an investment-grade sovereign credit rating,” he said.
However, the Finance Minister cautioned that upgrading the country’s credit standing would require consistent fiscal discipline rather than mere policy pronouncements.
“Investment grade sovereign rating cannot be conferred in a speech. It must be earned through sustained performance,” he said.
To track this progress transparently, Dr Forson announced that the Ministry of Finance will publish an annual investment-grade readiness report. This assessment will evaluate the country’s performance across several critical benchmarks, including fiscal management, debt affordability, reserve accumulation, monetary credibility, financial sector strength, institutional quality, and economic diversification.
Outlining the architecture of the New Economy plan, Dr Forson noted that its first pillar rests on sustaining macroeconomic stability and securing access to affordable financing. To achieve this, the government plans to enforce strict fiscal rules starting in the next fiscal year.
“From 2027, we will maintain a positive primary surplus of at least 0.5% of GDP. We will keep public debt consistent with 45% of GDP. We will preserve single-digit inflation and strengthen our external buffers,” he said.
By: Rainbowradioonline.com/Ghana
