Government targets end to commercial rice imports by 2030 under $10bn New Economy Programme – Ato Forson

Finance Minister Dr Cassiel Ato Forson says the government will spend the equivalent of US$10 billion between 2027 and 2030 to transform Ghana’s economy, create jobs and improve prosperity.

Presenting the 2027 Budget Statement, Dr Forson said the four-year investment would support the government’s ambition to build a modern economy through strategic infrastructure, increased local production and a more supportive environment for businesses.

He said the government would preserve economic stability while creating predictable conditions for enterprises to grow and contribute to national development.

According to the Minister, the resources made available through the sacrifices of Ghanaians must translate into tangible benefits for the population.

“The fiscal space bought by the sacrifices of the Ghanaian people must work for their benefit,” he said.

As part of the programme’s push for food self-sufficiency, Dr Forson announced plans to end commercial rice imports by 2030.

He also said Ghana would pursue self-sufficiency in meeting its sugar requirements within the same period.

The Finance Minister stressed that public funds must be directed towards supporting local producers and strengthening the domestic food economy.

“The money of the Ghanaian people must create opportunities for the Ghanaian people. Our public purse must nourish those who produce and those who feed on Ghanaian foods,” he stated.

The planned shift away from commercial rice imports and towards local sugar production forms part of the government’s broader strategy to reduce dependence on imported food, support domestic industries and create employment.

The US$10 billion New Economy Programme is expected to guide the government’s economic transformation agenda from 2027 to 2030.