Gov’t won’t borrow to finance New Economy Programme – Ato Forson

Ghana's Finance Minister Dr Cassiel Ato Forson said the government will not borrow to fund its proposed New Economy Programme, instead financing the initiative through domestic revenue and fiscal consolidation savings. The programme will receive 1.5 percent of GDP annually from 2027 to 2030—0.5 percent from government revenue and 1 percent from reducing the primary surplus target—generating at least US$13 billion over four years without increasing public debt. Dr Ato Forson made the commitment while addressing students at Kwame Nkrumah University of Science and Technology, emphasizing the government remains committed to reducing public debt to 45 percent of GDP by 2028 and will maintain a downward debt trajectory.