A former Member of Parliament for Amenfi Central, Peter Kwakye-Ackah, has described the 2026 budget presented by Finance Minister Ato Forson as a pivotal blueprint for stimulating economic growth.
He noted that the budget focuses on boosting local production, which is essential for reducing Ghana’s dependence on imported goods and strengthening local industries.
Speaking on the Angel Morning Show (AMS) on Thursday, November 24, 2025, Mr. Ackah emphasized that President John Dramani Mahama’s vision is to revive local industries, which will help conserve foreign exchange and create sustainable jobs for Ghanaians.
“Due to the inefficiency of some factories and industries, President Mahama had the idea of going back to the root of reviving the industries to save foreign exchange, which is going to bring jobs; the budget will also help in strengthening the cedi,” he said.
According to him, the National Democratic Congress (NDC) government aims to reverse the trend by reviving and building more factories, while the previous administration spent a large portion of the country’s foreign exchange on importing food.
“They used a huge portion of our foreign exchange to import sugar and rice instead of investing in industrial equipment, which is crucial because President John Mahama revived Komenda Sugar Factory,” he stated.
He added that the introduction of excess electricity will serve as a key driver in supporting factories and industries across the country.
“The introduction of 1,200 watts will help power and boost industries. Having reliable electricity is important for industrial growth, so I believe the budget is in the right direction,” he emphasized.
Source: Ernest Kelvin Okanta
