Thomas Nyarko Ampem targets job creation in 2027 Budget

Deputy Finance Minister Thomas Nyarko Ampem has announced that the 2027 Budget will prioritize the conversion of macroeconomic stability into tangible jobs and improved living standards for Ghanaians. Speaking at a Ghana Numbers event, Ampem highlighted the government's intention to transition the nation from its current phase of stability into a more robust "New Economy" driven by productive investments. The minister emphasized that the administration's primary goal is to ensure that statistical gains in the economy result in real benefits for the citizenry. The 2027 Budget is scheduled to be presented to Parliament on November 12, 2026. This timeline is intended to provide the legislature with sufficient time for thorough scrutiny and approval before the start of the 2027 financial year. The Deputy Minister indicated that the proposed theme for the fiscal policy might be "Moving Ghana from Stability to New Economy," reflecting a strategic shift from stabilizing macroeconomic indicators to delivering sustainable employment and growth across various sectors. During his address, Ampem noted that while economic growth and macroeconomic indicators have shown improvement, the government acknowledges that these figures must translate into better conditions for the average household. The "New Economy" framework suggests a move toward industrialization and modernizing sectors that can absorb a growing workforce. He stressed that the 2027 fiscal year would be a turning point where the benefits of a stabilized currency and controlled inflation are leveraged to attract foreign and domestic capital into high-impact projects. The November 12 presentation will serve as the official roadmap for the government's economic agenda under President John Mahama. By setting an early date for the budget reading, the Ministry of Finance aims to ensure a more thorough debate in Parliament regarding the allocation of resources for infrastructure, education, and health. The focus remains on bridging the gap between national financial accounts and the everyday economic realities of the Ghanaian people.