77th New Year School: Macroeconomic stability to unlock private sector investment – Finance Advisor
A Technical Advisor at the Ministry of Finance, Frederick Amissah, has stated that the country is set to experience a surge in private sector investment, industrialisation, and job creation as a result of the current macroeconomic stability the country is enjoying.
He explained that persistently high inflation, elevated interest rates and volatile exchange rates over the years had discouraged private capital and undermined long-term business planning, stressing that the government’s initial focus had therefore been on creating an environment conducive to private sector participation.
“Interest rates have come down from over 35 per cent, inflation is under control, and the Ghana cedi has appreciated significantly against major trading currencies,” he said.
He made the remarks during an interview session at the ongoing 77th University of Ghana Annual New Year School and Conference (ANYSC) in Accra.
Conference
The conference was organised by the School of Continuing and Distance Education (SCDE) under the College of Education, on the theme, “Building the Ghana We Want, Together for Sustainable Development.”
It is a platform that brings together government representatives, the private sector, academia and industry leaders, among others, for a critical reflection on national issues, evidence-based policy dialogue and the generation of practical solutions to support inclusive and sustainable growth.
Coordinated implementation
Mr Amissah, who oversees the Financial Sector Division as well as the External Resource Mobilisation and Economic Relations Division at the ministry, said the coordinated implementation of fiscal discipline and monetary policy, coupled with interventions in the gold sector to curb leakages and illicit flows, has strengthened the country’s foreign exchange position.
He revealed that the cedi had appreciated by over 40 per cent against the US dollar, 30 per cent against the pound, and 24 per cent against the euro by December 2025, marking one of the strongest performances in decades.
“So these are not quick fixes. These are permanent structures which are going to ensure that the sustainability of the forex generation capacity of the economy is improved and sustained, and also to ensure that the currency is adequately anchored to the forex accumulation,” he added.
Jobs, social protection
Mr Amissah also mentioned the role of the 24-hour economy initiative in driving industrialisation and import substitution, emphasising that local productive capacity would be enhanced to reduce reliance on imported goods.
Further on job creation, the Finance Advisor pointed to the 2026 national budget, which focused on growth, industrialisation and employment.
He iterated that budget activities alone were expected to generate about 800,000 jobs, with the infrastructure-driven “big push” initiative projected to create nearly 500,000 of these. Additional employment is anticipated through private sector expansion and investment in key areas such as oil palm development and smallholder agriculture.
Mr Amissah also stressed that fiscal sustainability remained a priority, citing amendments to the Public Financial Management Act to legally cap the debt-to-GDP ratio at 45 per cent by 2028 and maintain a primary surplus of 1.5 per cent to ensure long-term debt stability.
“We have made it a crime for our debts to be unsustainable,” he stated.
Social protection, he added, had not been compromised, with over GH¢1 billion earmarked for LEAP payments in 2026, prompt settlement of health sector claims, and the operationalisation of the Ghana Medical Trust Fund to support citizens living with chronic conditions.