Finance Minister hints at new “New Economy” policy focused on jobs and growth
Finance Minister Dr. Cassiel Ato Forson has hinted at the introduction of a new flagship economic policy dubbed the “New Economy”, which is expected to guide government’s next phase of development with a strong focus on job creation.
The announcement comes after Ghana and the International Monetary Fund (IMF) reached a staff-level agreement on the sixth review of the country’s IMF-supported programme, alongside discussions on transitioning to a Policy Coordination Instrument (PCI) after the current programme concludes.
Speaking at a joint press briefing with the IMF in Accra, Dr. Forson indicated that government believes macroeconomic stability has largely been restored and is now shifting attention towards growth and employment.
“Clearly, the stability is done. We’ve announced same. It’s been confirmed even by the fund,” he stated.
He said the government has built resilience through recent reforms and is now preparing to leverage that stability for broader economic transformation.
“We’ve built some good resilience and we are building it continuously. It’s now time for us to develop and create jobs, and that is where we are going,” he added.
Although details of the proposed framework have not yet been fully outlined, the Finance Minister disclosed that the “New Economy” policy will soon be formally launched and presented to the public.
“And so, in the coming days, we’ll be announcing our flagship design called the New Economy, where we’ll be looking at areas of development and job creation, and that will be made known to the people of Ghana,” he said.
The proposal comes at a pivotal time for Ghana’s economy, as policymakers seek to move beyond fiscal consolidation and stabilisation measures under the IMF programme towards strategies aimed at stimulating investment, industrial expansion, and sustainable employment.
The new policy direction is also expected to shape Ghana’s post-IMF economic framework as the country transitions from direct programme support to a non-financing Policy Coordination Instrument designed to sustain reforms and strengthen policy credibility.
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