Gov’t to Unveil ‘New Economy’ Flagship Policy Focused on Growth and Job Creation
Finance Minister Cassiel Ato Forson has hinted at the introduction of a new flagship economic policy framework dubbed the “New Economy”, signalling what could become government’s next major strategy aimed at accelerating development and job creation.
The proposed policy announcement comes on the back of Ghana reaching a staff-level agreement with the International Monetary Fund on the sixth review of the country’s IMF-supported programme, alongside discussions on transitioning onto a Policy Coordination Instrument (PCI) after the current bailout programme concludes.
Speaking at a joint press briefing with the IMF in Accra, Dr Forson suggested that government believes the country has largely achieved macroeconomic stability and is now preparing to shift its focus towards economic expansion and employment generation.
“Clearly, the stability is done. We’ve announced same. It’s been confirmed even by the fund,” he stated.
According to the Finance Minister, recent reforms undertaken under the IMF programme have helped build resilience within the economy, creating the basis for a new phase centred on growth-oriented policies.
“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.
While details surrounding the proposed framework remain limited, Dr Forson disclosed that government will in the coming days formally unveil the “New Economy” agenda to the Ghanaian 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 explained.
The announcement comes at a critical stage for Ghana’s economy as authorities seek to transition from fiscal consolidation and macroeconomic stabilisation efforts under the IMF programme towards policies capable of stimulating investment, industrial expansion, and sustainable employment creation.
The proposed framework is also expected to shape Ghana’s post-IMF economic direction as the country prepares to move from direct IMF financing support to a non-financing Policy Coordination Instrument designed to sustain reforms, policy discipline, and investor confidence.
