Felix Kwakye Ofosu, the Minister of State in charge of Government Communications, has disclosed that the government will introduce a comprehensive four-year economic transformation plan in the 2027 Budget Statement and Economic Policy.
The four-year economic transformation plan has been dubbed the New Economy.
Kwakye Ofosu disclosed that the plan will be presented by Finance Minister Dr Cassiel Ato Forson when he delivers the 2027 Budget to Parliament on Thursday, November 12, 2026.
He further revealed that the New Economy initiative would involve major investments in the productive sectors of the economy as part of a broader strategy to transform Ghana’s economy over the next four years.
However, he did not provide details of the specific sectors or investments to be covered under the plan.
Kwakye Ofosu further disclosed that refurbishment works on Terminal 2 of the Accra International Airport are 80 per cent complete.
In a Facebook post, he wrote, “ On Thursday, 12 November, 2026, Minister for Finance, Dr Cassiel Ato Forson, will, through the 2027 Budget Statement and Economic Policy of Government, introduce the New Economy- a comprehensive four-year economic transformation plan under which major investments will be made in the productive sectors of the economy.
In the meantime, the refurbishment of Terminal 2 at the Accra International Airport is 80% complete.
Here is a pictorial update”.
Meanwhile, Professor Isaac Boadi, Executive Director of the Institute of Economic Research and Public Policy (IERPP), has told John Mahama’s government to account for the $4 billion 24-Hour Economy programme before seeking public support for its proposed $10 billion New Economy initiative.
Prof Boadi said the Mahama government must provide verifiable evidence of the funds mobilised, projects undertaken and jobs created under the original programme before introducing another ambitious economic agenda.
Speaking at a press conference on October 27, 2026, Prof Boadi questioned the government’s ability to deliver on its economic promises, arguing that the absence of clear performance figures had raised concerns about transparency, accountability and the use of public resources.
Prof Boadi maintained that the government must demonstrate what it has achieved with the 24-Hour Economy programme before asking Ghanaians to embrace a new initiative involving an even larger financial commitment.
The economist further recalled that on June 30, 2025, Presidential Advisor on the 24-Hour Economy, Augustus Goosie Obuadum Tanoh, announced plans to mobilise $4 billion over four years to support the programme.
At the time, Abdul-Nasser Suglo Alidu, then Head of Strategy and Programmes at the 24-Hour Economy Secretariat, set a target of creating at least 1.7 million jobs within the same period.
He noted that President Mahama subsequently launched the 24-Hour Economy and Accelerated Export Development Programme, known as 24H+, on July 2, 2025. The initiative was designed to boost production, expand exports, attract private investment and create employment opportunities.
Nevertheless, Prof Boadi expressed concern that more than a year after the launch, the government had yet to provide a verified total of the jobs generated by the programme.
He cited a MyJoyOnline report published on October 19, 2026, which quoted Suglo Alidu as acknowledging that the Secretariat could not provide a definitive figure for the jobs created.
“I won’t be able to give you a number in terms of the total number of jobs the 24-hour economy created. We don’t want to throw numbers around,” Suglo Alidu stated.
Prof Boadi argued that the admission raised questions about the programme’s progress, particularly given the original target of 1.7 million jobs and the government’s emphasis on employment creation.
He also questioned claims made by the Secretariat in July 2026 that project agreements worth approximately $5.5 billion had been signed, with four projects expected to generate more than 160,000 direct jobs.
Prof Boadi called for clarity on how much of the reported $5.5 billion represented binding financing commitments, how much money had actually been disbursed and how many projects had moved beyond the agreement stage into implementation.
He further demanded information on the proportion of the original $4 billion financing target secured and the amount still outstanding.
As part of Prof Boadi’s recommendations, he urged the Mahama government to publish a comprehensive financing and implementation report detailing funds pledged, agreements signed, disbursements made, expenditure incurred and projects completed.
He also called for independently verifiable employment figures that distinguish permanent, temporary and indirect jobs from projected employment opportunities.
Additionally, he demanded an explanation of the GH¢90 million and GH¢110 million figures appearing in the 2026 Budget documents, including details of actual releases and expenditure.
See the post below:
@ghnow_ Former Black Stars captain Asamoah Gyan joins the praise session with joyful dancing in honour of the Lord during the thanksgiving service for his late father, Mr George Baffuor Gyan. #GHNow #fyp ♬ original sound – GHnow
@ghnow_ Asamoah Gyan and Manager Hit the Dance Floor During Praise Session #GHNow #fyp ♬ original sound – GHnow
