Ato Forson says Ghana's traditional economic model has failed
By the AFREEQUE newsroom, based on MyJoyOnline
Finance Minister Cassiel Ato Forson tells the National House of Chiefs that the economic model followed for 69 years has not created enough jobs. He presents the "New Economy" initiative as a lasting alternative to temporary programmes such as NABCO and YEA, ahead of the 2027 budget presented on 12 November, according to MyJoyOnline.
Ghana's Finance Minister, Cassiel Ato Forson, considers that the country's traditional economic model has failed to deliver the development results expected over the past 69 years. He was speaking before the National House of Chiefs, whose support he sought for the government's "New Economy" initiative.
The initiative aims to transform the country's economic structure, create lasting jobs and offer better prospects to young people entering the labour market. The minister believes that temporary programmes such as the NABCO (National Builders Corps) and the Youth Employment Agency (YEA) can bring immediate relief, but are not a lasting response to unemployment.
Ato Forson also argues for local processing of raw materials rather than their simple export, in order to create jobs and strengthen national industries. He assures that the government will maintain budgetary discipline, ahead of the presentation of the 2027 budget to Parliament on Thursday 12 November 2026, as part of the $9 billion employment plan.
