The government says it will introduce no new taxes in the 2027 Budget. Instead, it expects spending cuts to provide the savings needed to fund its main programmes.
Deputy Finance Minister and Asuogyaman MP Thomas Nyarko Ampem shared this during a closed-door meeting with the Parliamentary Press Corps ahead of Thursday, November 12, when the budget is due to be presented.
He said the Finance Minister would also explain how oil revenue will be used in the years ahead, after oil proceeds were allocated to fully fund the Accra-Kumasi Expressway.
A ceremony to mark the start of construction on the project is expected before the end of 2026.
The Finance Ministry also denied claims that the government plans to rename the 24-Hour Economy Programme as the New Economy policy.
It said the 2027 Budget presentation would come with a separate policy document describing the New Economy initiative, which is expected to secure $10 billion to reshape the economy.
The Finance Minister is also expected to brief Parliament on the progress of the 24-Hour Economy Programme.