On Tuesday, November 10, MP Tweneboa Kodua Fokuo of Manso Nkwanta told Joy News’ PM Express that the government’s so‑called "new economy" is essentially a rebranding of the 24‑hour economy policy, with the only real shift being a move toward public financing after private sector interest waned.
Fokuo, Deputy Ranking Member of Parliament’s Economy and Development Committee, argued that the pillars of both initiatives—export expansion, import substitution and accelerated national development—are virtually identical. He added that the 24‑hour economy’s "24‑hour economy plus" component was already designed to boost exports and replace imported goods with locally produced alternatives.
The MP highlighted that the earlier programme struggled because it relied on private sector funding, which failed to generate sufficient interest. "The private sector had no appetite at all for the 24‑hour economy programme," he said. He contended that the current approach simply repackages the same policy, now with public funds taking centre stage.
Fokuo said the forthcoming 2027 Budget, to be presented by Finance Minister Dr Cassiel Ato Forson, will be the moment to scrutinise how the government plans to finance its programmes and translate policy ambitions into measurable outcomes.
He urged Parliament to examine the budget statement and economic policy to understand the government’s spending priorities, revenue measures and overall economic plans for the coming year.
