Economist Professor Ebo Turkson is urging government to use the 2026 budget for full economic restructuring.
He says the current macroeconomic stability provides the right opportunity to diversify Ghana’s economy.
Prof. Turkson believes the government must reduce dependence on commodities and strengthen local production systems.
He explained that the recent stability is partly due to favourable gold prices and stronger fiscal performance.
“We need to structurally transform our economy. Most of what we are seeing now is also coming from the fact that the balance of payment is good. Gold is good, the gold for reserves has helped us a lot but these are based on commodities and you cannot depend on commodities to build the resilience so we need to change the structure of the economy. This is the time the government should prioritise how we can diversify our production base,” he stated.
According to the Bank of Ghana, the cedi has appreciated by 37 percent against the US dollar.
Inflation has also fallen to 9.4 percent in September 2025, down from 11.5 percent in August.
This marks Ghana’s first single-digit inflation rate in four years.
“The 24 hour economy is on board so if the right infrastructure is built to support that 24-hour economy we are going to see diversification in the production base of the economy and also our export base,” Prof. Turkson added.
The 2026 budget will be presented on November 13 by the Mahama administration.
It will be the government’s first full-year fiscal policy since returning to power in 2025.
The budget is expected to outline strategies for sustaining growth and driving long-term transformation.
