Finance Minister, Dr Cassiel Ato Forson, says the government would not take any external funds to fund its New Economy Programme.

The New Economy Programme is one of the Mahama administration's flagship initiatives.

It is a four-year economic transformation plan aimed at shifting Ghana from an import-dependent economy to one driven by local production, industrialisation and value addition.

The programme also seeks to promote private-sector-led job creation and is expected to mobilise at least US$13 billion between 2027 and 2030.

In response to questions and concerns regarding funding of the programme raised by some students and members during an interactive engagement.

The Minister explained that the programme will be executed with local revenue and savings from fiscal consolidation.

According to him, the government plans to allocate 0.5% of GDP from government revenue and reduce the primary surplus target from 1.5% to 0.5% of GDP to US$13 billion over the four years.

The Finance Minister also clarified that the Ghana Gold Board (GoldBod) does not generate revenue for the Ministry of Finance or the government.

He explained that the state’s finances are primarily supported by direct taxes, indirect taxes and non-tax revenue.

On the country’s debt position, Dr Ato Forson reaffirmed the government's commitment to reducing public debt to 45 per cent of GDP by 2028.

He pointed to Ghana’s primary balance performance, noting that the country recorded a surplus of 2.5 % of GDP in 2025, with a further 1.5% projected for 2026.According to him, the two surpluses are expected to contribute to a reduction in public debt equivalent to about 4 % of GDP.However, the government plans to reduce the annual debt reduction target to 0.5 % of GDP from 2027 to create room for investments under the New Economy Programme.Dr Ato Forson said the approach would allow the government to finance its economic transformation plans while keeping public debt on a downward trajectory.