Ghana plans $13bn for New Economy without new loans
By the AFREEQUE newsroom, based on MyJoyOnline
Finance Minister Cassiel Ato Forson says the government will mobilise at least $13 billion over four years, from 2027 to 2030, without further borrowing. Funding will rely on domestic revenue and an adjustment of the primary surplus target, according to MyJoyOnline.
The Ghanaian government plans to mobilise at least $13 billion for its New Economy programme over four years without taking out new loans, Finance Minister Cassiel Ato Forson said at KNUST university in Kumasi. The programme, which will cover the period 2027-2030, will be funded by higher domestic revenue and an adjustment of budget targets: 0.5% of GDP will be drawn from state revenue, and 1% will be freed up by lowering the target primary surplus from 1.5% to 0.5% of GDP.
The minister also rejected the idea that the Ghana Gold Board (GoldBod) generates funds for the state, noting that the government’s main revenue sources remain direct taxes, indirect taxes and non-tax revenue. He reaffirms the goal of bringing public debt down to 45% of GDP by 2028, after a primary surplus of 2.5% of GDP in 2025, and plans to slow the annual debt reduction to 0.5% of GDP from 2027.
