IPPA Questions New Economy Plan, Demands Clarity on Delivery and Job Creation Ahead of 2027 Budget

The Institute of Public Policy and Accountability (IPPA) has raised concerns over the government's proposed $10 billion "New Economy" programme, questioning how it differs from the 24-Hour Economy initiative and demanding accountability for unfulfilled promises ahead of the 2027 Budget Statement.

In a press statement signed by its Executive Director, IPPA said Ghanaians needed explanations about the new programme, particularly when several flagship interventions announced in the 2026 Budget had yet to demonstrate tangible results. The Institute argued that the government must first account for the implementation of existing commitments rather than introduce new programmes extending beyond its current mandate.

The New Economy programme, expected to attract $10 billion in investment between 2027 and 2030, will be unveiled by Finance Minister Dr Cassiel Ato Forson in Parliament on Thursday, November 12. President John Dramani Mahama has said the initiative will focus on job-rich sectors including textiles, commercial agriculture, and hospitality, with the Volta Region expected to benefit significantly .

Conflicting Growth Narratives

IPPA cited a decline in non-oil GDP growth from 8.2 percent in the first half of 2025 to 5.9 percent in the corresponding period of 2026 as evidence of stagnating economic performance. However, Ghana Statistical Service data published in September 2026 showed non-oil GDP expanding by 5.9 percent in the first half of 2026, with overall GDP growth at 6.2 percent for the same period . The discrepancy in IPPA's figures could not be immediately reconciled.

The Institute also pointed to October 2026 GSS figures showing that close to two million young people were neither employed nor in education or training. The Government Statistician, Dr Alhassan Iddrisu, disclosed that about 12 million Ghanaians were aged between 15 and 35, with more than six in ten of the NEET group being young women .

"Where are the millions of jobs promised under the Big Push?" IPPA asked, questioning the employment impact of the government's investment commitments.

Agriculture and 24-Hour Economy Under Scrutiny

IPPA said several agricultural interventions presented as central to the transformation agenda had yet to show significant implementation, including Farmer Service Centres, the Feed Ghana Programme, the Oil Palm Development Programme, construction of 1,000 kilometres of agricultural enclave roads, a GH¢200 million food buffer-stock intervention, and mechanisation support for farmers. "Little or nothing has been done to implement these agricultural policies," the Institute claimed.

On the 24-Hour Economy, IPPA cited its December 2025 assessment, which questioned whether resources allocated in the 2026 Budget were adequate and identified a lack of sufficiently clear targets and rollout arrangements as weaknesses. The government has since allocated GH¢110 million to kickstart the programme, with Parliament passing the 24-Hour Economy Authority Bill in February 2026 .

The 24-Hour Economy Secretariat has reported that 268 filling stations and 33 manufacturers are now operating on extended or multi-shift schedules, with $5.5 billion in Joint Development Agreements signed with private partners . The Secretariat has set a target of creating 1.7 million decent jobs by the end of 2028.

A Call for Delivery Over Announcements

IPPA said the central challenge confronting the government was the gap between policy ambitions and the financial, institutional and implementation capacity required to translate them into measurable outcomes. It argued that the government was approaching its third year in office without demonstrating sufficient progress on several flagship policies announced in previous budgets.

"Ghana does not need another budget filled with impressive project names and ambitious policy targets. It needs a government that can deliver what it has already promised," the statement said.

The 2027 Budget is expected to detail the New Economy's financing framework, with reports indicating it will cost 1.5 percent of GDP annually from 2027 to 2030, partly funded by lowering the fiscal rule's primary surplus floor .

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Background: A Pattern of Scrutiny

IPPA's intervention follows similar concerns from other policy groups. The Centre for Policy Scrutiny said in July 2026 that the government had not provided verifiable data to confirm the 490,000 jobs promised under the Big Push initiative, noting that of 87 projects assessed, only 28 had reached more than 25 percent completion . The government has consistently maintained that its programmes are delivering results and that private-sector investment, rather than direct public spending, is driving job creation under initiatives like the 24-Hour Economy.