Ghana’s 2027 Budget will show whether the government is serious about reducing imports, supporting local businesses and easing pressure on foreign exchange, Economist and Executive Director of the International Development Economics Association, Dr. Charles Abugre, has said.
He wants the government to move beyond promises and present clear plans to raise more money locally for development and produce more goods in Ghana instead of relying heavily on imports.
With the 2027 Budget expected to be presented in November, Dr. Abugre says the government’s New Economy agenda must focus on raising funds locally, keeping the cedi stable and building a stronger economy through local production.
His concerns come at a time when Ghana spent GH¢36.5 billion on food imports in 2025. Cereals, frozen chicken and other animal products made up a large part of the import bill.
“I want to hear that this government strategy is domestic financing, founded on the cedi, the stability of the cedi,” he said during his interview.
Dr. Abugre also wants the Budget to explain how the government will spend public funds, especially on procurement.
He believes government contracts and spending should create more opportunities for local businesses. However, he says this should not mean protecting businesses that fail to perform well from competition.
He also points to energy imports as another major reason Ghana needs foreign exchange. Along with food imports, energy imports put pressure on the economy and make it harder for local businesses to compete.
“Two things that make a government dependent, especially Ghana, is food imports and energy imports,” he said.
He believes Ghana can reduce its demand for dollars by developing local energy sources and using them to support industries and businesses.
“A local solution to energy is absolutely critical to prioritising the cedi rather than the dollar,” he added.
Dr. Abugre is therefore expecting the November Budget to provide a clear plan for turning the government’s Reset Agenda into increased local production, more domestic financing and stronger exports.
He says the main test will be whether the New Economy agenda can help Ghana reduce its reliance on imported goods and invest more in local industries that create jobs, produce goods for export and earn foreign exchange for the country.
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