Ato Forson Outlines Vision for Ghana’s New Economy

V. L. K. Djokoto

Finance Minister Dr Cassiel Ato Forson has outlined the government’s vision for a new economy centred on domestic production, value addition, job creation and prudent management of public resources.

The proposed economic direction seeks to increase the value Ghana derives from its agricultural produce and mineral resources, strengthen local industries and expand employment opportunities, particularly for young people.

In a series of Facebook posts, Dr Forson said the government intended to build an economy that produces more of what the country consumes, while reducing the loss of economic opportunities associated with limited domestic processing and manufacturing.

“The new economy will add value to what we grow and mine, produce more of what we consume and create decent jobs here at home,” he stated.

The Finance Minister placed particular emphasis on unemployment, describing it as a challenge whose consequences extend beyond national economic figures to the lives of individuals and families.

“Unemployment is personal. It is hope kept waiting, talent left idle and a family’s sacrifice yet to bear fruit,” he wrote.

He said the new economic direction was intended to create conditions in which the skills and abilities of citizens could be translated into productive employment.

“The new economy is Ghana’s refusal to accept wasted potential as normal, and our resolve to turn ability into opportunity and opportunity into the dignity of work,” he added.

Dr Forson also linked the government's economic ambitions to greater fiscal discipline, arguing that the effective management of public resources would be essential to achieving its development objectives.

He stressed that public expenditure must be guided by accountability, while revenue collection and the recovery of funds owed to the state must receive greater attention.

“Ghana cannot afford waste. Every cedi carries a duty: to build, repair, protect and serve,” he stated.

“We must therefore collect what is due, account for what is spent, recover what is owed, and stop waste before it steals from the people.”

The Minister made the remarks as part of ongoing engagements with universities on the government's proposed economic direction.

On Monday, 12 October 2026, he met academics, researchers and students at the University for Development Studies, Nyankpala Campus, where discussions focused on the country's economic future and the importance of creating sustainable employment.

Describing the engagement as successful and inspiring, Dr Forson reiterated the need for economic policies capable of generating productive jobs on a significant scale.

“The new economy must create jobs at scale: decent, productive jobs that give young people a real stake in Ghana’s future,” he stated.

He announced that the consultations would continue at the University of Ghana on Tuesday, 13 October 2026.

The government’s new economy agenda, as presented by the Finance Minister, identifies domestic value addition, increased local production, employment creation and fiscal accountability as central priorities.

The extent to which these objectives translate into economic gains will depend on the policy measures, investments and institutional reforms undertaken to support their implementation.