Ghana’s 70th anniversary must mark turning point in economic transformation – Ato Forson

Finance Minister Dr Cassiel Ato Forson says Ghana has achieved far less than expected despite gaining independence from colonial rule nearly 70 years ago.

He expressed concern that the country has struggled over the years to realise the vision and aspirations of its first President, Dr Kwame Nkrumah.

According to him, many of the plans and dreams envisioned by Dr Nkrumah remain unfulfilled decades after his demise.

"Mr Speaker, in 2027, Ghana will mark 70 years of independence, yet the economic transformation envisioned by Osagyefo Dr Kwame Nkrumah has not been realised. Our economy continues to carry a burden of long-standing structural weakness," he said.

"We depend too heavily on raw materials exports, add little value at home and create few productive jobs for our people," the finance minister said.

Dr Forson said the upcoming 70th anniversary of Ghana's independence in March 2027 must serve as a turning point for the country.

"Our 70th anniversary must mark a decisive turning point," he said, adding, "the new economy is the government of Ghana's four-year programme beginning in 2027 to confront this weakness and transform the structure of the Ghanaian economy."

He explained that the 2027 Budget reflects the government's commitment to making the milestone a new beginning for Ghana through renewed efforts to achieve the country's development aspirations.

He added that the President John Dramani Mahama-led administration is committed to translating that vision into tangible progress for Ghanaians.

Dr Ato Forson made these remarks while presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12.