Minority Slams 2027 Budget’s ‘New Economy’ as Rehash of Failed 24-Hour Economy

The Minority in Parliament has criticized the government’s proposed New Economy agenda in the 2027 Budget, due Thursday, November 12, calling it a rehash of the failed 24-Hour Economy initiative.

The caucus challenged the government to account for jobs created, investments secured and progress under existing flagship programmes before offering new economic promises.

Financing capacity
Speaking ahead of the budget, former Finance Minister and Karaga MP Dr Mohammed Amin Adam questioned the government’s capacity and financing for its transformation agenda.

He said the issue is not whether Ghana needs a new direction, but whether the government can implement and finance programmes it has already announced.

“Ghanaians deserve more than another catalogue of promises. They deserve a credible plan, backed by realistic financing, measurable outcomes, and accountability for results. Therefore, before announcing a new economy, the government must first account for the promises of the old one,” he said.

Finance Minister Dr Cassiel Ato Forson is expected to present the 2027 Budget under the theme New Economy, intended to guide a four-year transformation programme.

Dr Amin questioned the 24-Hour Economy programme, launched in July 2025 with a projected US$300 million–US$400 million in seed capital. It was expected to create 1.7 million jobs by 2028 through the “One Job, Three Shifts, Three Workers” model.

He said the government had not raised the US$5.5 billion and it should not be equated with funds mobilised and disbursed.

He criticized the redesignation of 24-Hour Economy markets as district economy markets, saying it had delayed completion, now projected for 2028 in two phases.

He called for a detailed account of financing, implementation status and outcomes of existing commitments ahead of the budget.