The plan, which has been set at $10 billion, was unveiled by the country’s Finance Minister, Cassiel Ato Forson, on Thursday while he presented the 2027 budget.
The investment scheme, which is set to begin at the start of next year, will be funded locally rather than through foreign borrowing.
Ghana is looking to channel the $10 billion into several sectors, including commercial farming, energy, technology, textiles, clothing and the processing of critical minerals.
The aim is to produce more goods locally and move beyond exporting raw materials.
The finance minister explained that the government would also focus on building key infrastructure and preparing projects that can attract private investors.
“Government will preserve stability, provide strategic infrastructure, prepare bankable projects and create predictable conditions for enterprise,” he promised.
He noted that the current administration expects the economy to grow by 5.2% in 2027, compared with an estimated 4.8% in 2026.
He also disclosed that the government intends to reduce the budget deficit from 4% of GDP this year to 3.6% next year.
On inflation, the government plans to keep the rate within 8%, with a two-percentage-point margin on either side, as seen on Reuters.
The 2027 budget is Ghana’s first since it completed its $3 billion support programme with the International Monetary Fund in July 2026.
Ghana turned to the IMF in 2022 after rising debt costs and economic pressures linked to years of excessive spending, the COVID-19 pandemic, Russia’s invasion of Ukraine and high global interest rates pushed its finances under pressure.
The IMF programme helped bring inflation down from a peak of 54.1% in December 2022 to 3.2% in March 2026; however, prices have started rising again in recent months.
Another aspect of the plan is to ensure that the government, next year, will be able to redeem GH¢29 billion ($2.48 billion) in domestic bonds due in February 2027, with the repayment taking effect immediately.
It also plans to settle a restructured Eurobond due in January 2027 before the end of December.
Together, the early repayments are expected to clear more than GH¢36 billion in debt ahead of schedule.
Although its IMF funding programme has ended, Ghana will continue working with the Fund under a three-year Policy Coordination Instrument.
The arrangement does not provide loans but allows the IMF to monitor the country’s economic policies and progress on reforms.
Source: africa.businessinsider.com
