Minority Demands Account of 24-Hour Economy Ahead of 'New Economy' Budget

The Minority in Parliament wants the government to explain what its 24-Hour Economy programme has achieved before it rolls out a new economic agenda in the 2027 Budget.

The caucus says the government should set out results from its current initiatives, such as jobs created and investment attracted, instead of offering Ghanaians fresh pledges, as first reported by Citi News.

Finance Minister Dr Cassiel Ato Forson is due to present the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12. The budget will carry the theme "New Economy", described as a four-year programme of economic transformation.

Addressing journalists ahead of the presentation, Karaga MP and former Finance Minister Dr Mohammed Amin Adam said the debate was not about whether the country required a fresh economic direction. In his view, the real question was whether the government had shown it had the capacity, the money and the policy discipline to deliver.

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"Ghanaians deserve more than another catalogue of promises," he said. He added that the public was owed a credible plan with realistic funding, measurable outcomes and accountability.

"Therefore, before announcing a new economy, the government must first account for the promises of the old one," Dr Amin said.

He also argued that the government had inherited a programme which, according to him, had already made difficult decisions, begun implementation and was producing the expected results.

Much of his criticism focused on the 24-Hour Economy initiative, which was launched in July 2025. The programme set a target of US$4 billion in investment, with the government pledging between US$300 million and US$400 million as seed capital. It aimed to create 1.7 million jobs by the close of 2028 through its "One Job, Three Shifts, Three Workers" model.

According to Dr Amin, the government has not yet raised the projected US$4 billion and set aside only GH¢110 million for the programme in the 2026 Budget.

He further questioned the government's reliance on joint development agreements reportedly valued at US$5.5 billion. He argued that these agreements should not be presented as money that has already been raised and released for implementation.

The former minister also expressed concern about the decision to rename the 24-Hour Economy markets as district economy markets. He said the change had affected the project schedule. The markets were originally meant to be finished in 2026, but he said they have now been split into two phases, with completion pushed to 2028.

Dr Amin urged the government to give a credible account of its existing commitments before asking the public to back its proposed transformation agenda. He said that account should be supported by realistic financing, measurable outcomes and clear accountability.