On Tuesday, November 10, Dr Mohammed Amin Adam, Ranking Member of Parliament’s Finance Committee, voiced concerns over the Mahama administration’s ability to secure the US$10 billion earmarked for the New Economy initiative. The Minority, represented by Dr Adam, demanded a clear, costed financing plan before the 2027 Budget is tabled.
Dr Adam highlighted that the government has yet to demonstrate how it will mobilise the proposed investment, especially after failing to deliver on the resources pledged for the earlier 24‑Hour Economy programme. He noted that the initial proposal called for US$4 billion, with the state expected to contribute between US$300 million and US$400 million as seed capital. Yet the 2026 Budget allocated only GH¢110 million to the initiative, and the US$5.5 billion cited in Joint Development Agreements should not be mistaken for actual funds raised.
The Minority also pointed to a 39.3 percent shortfall in capital expenditure against the target in the first half of 2026, followed by a GH¢5 billion cut in capital spending. “Until these questions are answered with a costed, published financing plan, the New Economy is a slogan, not a policy,” Dr Adam said.
He called on the Finance Minister to distinguish between budget‑funded expenditure, private investment, public‑private partnerships, concessional financing and commercial borrowing, and to provide clear timelines and funding commitments.
Observers note that the debate comes ahead of the 2027 Budget, where the government is expected to outline its financial strategy for the New Economy. The outcome of this discussion will shape investor confidence and the feasibility of the programme’s ambitious targets.
