Ato Forson wants economy adapted to 35 million people
By the AFREEQUE newsroom, based on MyJoyOnline
Ghanaian Finance Minister Cassiel Ato Forson says the economy must be transformed to meet the needs of a population of 35 million and create sustainable jobs. He considers temporary employment programmes insufficient, according to MyJoyOnline.
Ghanaian Finance Minister Cassiel Ato Forson wants to transform the structure of the economy so that it can support a population of 35 million and create sustainable jobs. He defended this approach on Thursday, after presenting the 2027 budget to Parliament, saying the Ghanaian economy had been designed for a much smaller population, according to MyJoyOnline.
Ato Forson said temporary employment programmes such as the National Builders Corps (NABCO) and schemes run by the Youth Employment Agency were insufficient because they offered jobs for limited periods. He said the government’s "New Economy" policy must now address the economy’s structural weaknesses and go beyond simply stabilising macroeconomic indicators, according to MyJoyOnline.
The minister also said the government had devoted its first phase to restoring fiscal discipline after coming to power in 2025. He cited a primary surplus equivalent to 2.5% of GDP in 2025 and 1.5% in 2026, and wants to bring the target down to 0.5% of GDP for the next stage of the economic programme, according to MyJoyOnline.
The new direction comes after the announcement on 31 July of the "New Economy" framework for the 2027 budget, and after criticism voiced by Ato Forson on 9 November of the traditional economic model. It also forms part of preparations for the 2027 budget.
