Ghana’s 2027 Budget, christened 'The New Economy'. is expected to be presented to Parliament at 6 pm, today Thursday, November 12.

Published 12 Nov 2026, 18:09 GMTUpdated 12 Nov 2026, 18:24 GMT

3 min read

Listen to this article

Playback position

0:003:04

Playback speed

Former Finance Minister Dr Mohammed Amin Adam has told the Finance Minister, Dr Cassiel Ato Forson, to admit in the 2027 budget statement that the 24-Hour Economy initiative has failed; hence the 'New Economy' idea.

Speaking to TV3 ahead of the 2027 budget presentation on Thursday, November 12, Dr Amin Adam said emphatically that the introduction of the New Economy idea was occasioned by the failure of the 24-Hour Economy initiative.

"They should tell us the 24-hour economy has failed; that is why they need a new anchor," the Karaga lawmaker said.

However, Presidential Spokesperson, Kwakye Ofosu has said that the New Economy that will be announced by the Finance Minister in the 2027 budget statement will spell out clear plans to provide jobs for the youth.

He says the New Economy is not business as usual; it intends to serve a useful purpose.

"It is not business as usual; it creates jobs for the youth; it is a government programme intended to transform the economy over the next four years. 24-hour economy was never meant to be an event; it was a government initiative that brings incentives to the private sector,"

"Substantial work has gone into it; yes, we are yet to realise the full scale of the programme," he added.

Ghana’s 2027 Budget, christened 'The New Economy'. is expected to be presented to Parliament at 6 pm, today Thursday, November 12.

Speaker of Parliament, Alban Bagbin, says the adjustment to an evening sitting follows a request by the Finance Minister, which he has approved after being given compelling reasons.

The 2027 Budget is expected to outline the government’s economic priorities and policy direction, with a focus on shaping a new economy, driving growth, creating jobs and improving the livelihoods of Ghanaians.

Ahead of the presentation, Director of the Institute of Statistical, Social and Economic Research (ISSER), Professor Robert Darko Osei asked the government to raise capital spending in the 2027 budget to improve infrastructure and business productivity. He directs the Institute of Statistical, Social and Economic Research (ISSER).

On JoyNews' PM Express Business Edition, Osei said spending on capital projects missed its target by more than 40 per cent during the first half of 2026, as project cuts helped the state meet fiscal consolidation goals.

"We were down by the target by over 40 percent in terms of the capital expenditures, which clearly is not consistent with a big push to try and beef up infrastructure," he said.

He warned that leaning on capital spending cuts to balance the books undermines the physical infrastructure required to lower business operating costs and conflicts with the administration's US$9 billion 'New Economy' plan for 2027–2030.

"We are not doing the infrastructure for the sake of infrastructure. We are doing the infrastructure to support the ecosystem within which businesses operate," Osei noted.

With Ato Forson briefing traditional leaders on the 2027 budget and the government working within tight fiscal strategy and IMF budget rules, the ISSER director urged authorities to channel more of the resulting fiscal space into productive public investments.

However, he cautioned that higher capital allocations must be matched by strict project monitoring, accountability and value-for-money checks.

"It is not just the number of or the amount of cedis that we spend. It is also the efficiency of the spending," Osei stressed.

Laud NarteyLaud Nartey is a current affairs editor with the MG News team at Media General, serving TV3 Ghana, 3News, Onua TV and more platforms.

2027 Budget: Admit that 24-hr economy has failed - Amin Adam tells Finance Minister

Suggested for you

More Stories

Spain Seizes 2.6 Tonnes of Cocaine Hidden in Ghana-Origin Coconut Shipment

NAIMOS confirms discharge of two personnel injured in Manso Keniago clash

Live Stream: 2027 Budget presentation by Finance Minister Cassiel Ato Forson

Mahama assures Ghanaians old cedi notes remain valid alongside new Heritage Series

2027 Budget: NDC govt has managed the economy better than the NPP - Kwakye Ofosu

Sokoto approves ₦6.12bn for nine UBEC model schools

Discussion