Government has announced plans to introduce Natural Resource Management Act to replace the Petroleum Revenue Management Act.
Presenting the 2027 budget statement and economic policy of the Government for the year ending 31st December, 2027 , the Finance Minister, Dr Cassiel Ato Forson stated that, the new law will bring revenues from oil,gold,lithium, bauxite and all other extractive resources under one clear and accountable framework, for the benefit of present and future generations.
He added that building on that experience, “our natural resource revenues will only be directed to major national infrastructure projects.”
On the economic performance, Dr Forson said Ghana has made significant gains and emerged from its worst economic crisis.
He says that stability is restored, confidence is back, and Ghanaians can breathe again.
He said, “Ghana has made significant gains, has emerged from the most painful economic crisis in our history, stability has returned, confidence is back, and Ghanaians can breathe again.”
“The Ghanaian people paid heavy prices; the debt restructuring imposed severe hardships,”
Dr Forson further stated that “We [Ghana] have grown but we have not built enough resilience into that growth.”
Prior to the budget presentation, the Minister of Government Communications Felix Kwakye Ofosu said that the New Economy that will be announced by the Finance Minister in the 2027 budget statement will spell out clear plans to provide jobs for the youth.
He says the New Economy is not business as usual; it intends to serve a useful purpose.
“It is not business as usual; it creates jobs for the youth; it is a government programme intended to transform the economy over the next four years. 24-hour economy was never meant to be an event; it was a government initiative that brings incentives to the private sector,” he told TV3 ahead of the 2027 budget presentation on Thursday November 12.
“Substantial work has gone into it; yes, we are yet to realise the full scale of the programme,” he added.
