The Minority in Parliament has questioned the government’s proposed New Economy agenda, warning that the initiative could become another political slogan if the administration fails to establish credible funding arrangements and demonstrate measurable improvements in the lives of ordinary Ghanaians.
The Ranking Member on Parliament’s Finance Committee, Dr Mohammed Amin Adam, expressed the concerns during a press conference on Tuesday, November 10, 2026, ahead of the presentation of the 2027 Budget.
Dr Amin Adam argued that the government’s economic ambitions must be supported by realistic revenue projections and clearly defined expenditure commitments rather than political announcements.
He maintained that the economic circumstances confronting many households and businesses did not necessarily reflect the administration’s claims of improving economic conditions.
To support his argument, the former Finance Minister cited difficulties facing traders, farmers and cocoa producers, insisting that weak commercial activity and challenges in finding buyers for agricultural produce continued to affect livelihoods.
He also questioned whether the official inflation figures adequately reflected the actual cost pressures experienced by households.
According to him, the reduction in headline inflation should not automatically be interpreted as evidence that ordinary Ghanaians have experienced a corresponding improvement in their purchasing power.
Dr Amin Adam also criticised the government’s public sector salary adjustments, comparing the increases of 10 per cent in 2025 and 9 per cent in 2027 and 2028 with the nearly 30 per cent adjustment approved in 2024.
He argued that the proposed New Economy agenda would require substantial financial resources and questioned the administration’s ability to generate sufficient revenue to implement its programmes.
The Minority particularly raised concerns about the government’s reliance on additional fiscal space associated with adjustments to the primary balance target under the International Monetary Fund programme.
Dr Amin Adam argued that the additional fiscal space should not be mistaken for newly generated revenue, since the government would still have to mobilise the necessary resources to finance its expenditure commitments.
He further warned that poor revenue performance could undermine the implementation of flagship programmes, including the government’s 24-Hour Economy initiative.
The Minority therefore believes that the administration risks repeating what it describes as the underperformance of earlier flagship programmes if the 2027 Budget does not provide convincing financial details.
The government is expected to present its 2027 Budget Statement and Economic Policy to Parliament on Wednesday, November 11, 2026.
The presentation is expected to provide details of the administration’s economic priorities, revenue mobilisation measures, expenditure plans and proposed interventions for job creation and industrial expansion.
The Minority has consequently urged the government to move beyond policy branding and provide practical measures that can translate its economic ambitions into tangible improvements in employment, production, household incomes and business activity.
