Finance Minister Dr Cassiel Ato Forson outlines "Atonomics" at KNUST ahead of 2027 budget

On Monday, Finance Minister Dr Cassiel Ato Forson attended a pre‑budget engagement at Kwame Nkrumah University of Science and Technology (KNUST) in Kumasi, addressing staff and students ahead of the presentation of Ghana's 2027 budget on 12 November.

Minister outlines "Atonomics"

During the session, the minister urged the audience to "test the assumptions behind the policies we will be announcing, and show us where correction is needed," emphasizing a new framework he called "Atonomics" – spend only what you have, finish what you start, bring down the cost of credit, buy Ghanaian, and write the rules into law.

Test the assumptions behind the policies we will be announcing, and show us where correction is needed.

He noted that when he took office in January 2025, the 91‑day Treasury bill yielded about 29% and businesses borrowed at 35‑36%. He reported the bill rate had fallen to roughly 4.5% and some firms now borrow at 9‑12%. He acknowledged that government borrowing had crowded out private lenders, with bank credit to the private sector at about 11% of GDP, compared with 25‑26% in Côte d’Ivoire, and set a target of lifting private credit above 20% of GDP.

Q&A with university community

The minister stayed on stage for five rounds of questions. Participants raised concerns about farm‑gate pricing, tax burdens on young farmers, and access to affordable credit for agribusinesses. A graduate highlighted an upfront tax of GH¢5,000 for a two‑hectare farm that had risen to GH¢12,000, while a market‑women representative described price‑setting practices that limit farmer bargaining power. A lecturer asked how students could secure loans between GH¢50,000 and GH¢150,000 for agricultural trucks.

The Minister closed by telling students they are "the very reason" for this effort.

He also pledged forthcoming policies on agriculture, textiles, local procurement, artificial intelligence and affordable credit. The engagement forms part of the government's outreach ahead of the budget, inviting public scrutiny of the proposed fiscal strategy.

As the budget presentation approaches on 12 November, officials indicated that the Finance Ministry will monitor the implementation of the outlined measures and assess their impact on Ghana's economy.