The Minority in Parliament has accused the government of repackaging its 24-hour economy programme as the proposed “New Economy”, demanding an account of the original policy before resources are committed to another economic agenda.
Former Finance Minister and Karaga MP, Dr Mohammed Amin Adam, said the two programmes appeared to share similar priority sectors and objectives, raising questions about what had changed and whether the government had delivered on its earlier promises.
Speaking at a press briefing ahead of Finance Minister Dr Cassiel Ato Forson’s presentation of the 2027 Budget, Dr Amin Adam challenged the government to account for the 24-hour economy, including its proposed US$4 billion investment target, the projects undertaken and the jobs created.
“The question is, what has happened to the 24-hour economy? Before the government introduces what it calls the New Economy, it must account to Ghanaians for the 24-hour economy it promised. We need to know how much investment has been mobilised, how many jobs have been created and what has happened to the projects announced under that programme,” he said.
He also questioned the status of financing arrangements and joint development agreements announced under the programme, arguing that commitments and announcements should not be presented as investments actually mobilised or disbursed.
Dr Amin Adam further raised concerns about how the New Economy agenda would be financed, asking whether its proposed investments would bring additional resources into the economy without undermining other development priorities, particularly infrastructure and capital expenditure.
He said the government must explain the relationship between the New Economy’s priority sectors and those previously identified under the 24-hour economy, and provide verifiable details of the new programme’s funding, targets, implementation arrangements and expected outcomes.
The Minority’s concerns come ahead of the 2027 Budget, which is expected to outline the government’s plans for implementing the New Economy agenda.
Dr Amin Adam said the government should demonstrate what it had achieved under the 24-hour economy and what lessons it had learnt before presenting the New Economy as a new direction for economic growth.
Dr Ato Forson is scheduled to present the 2027 Budget to Parliament on November 12.
