‘New economy is old failed promises with new branding’ – Oppong Nkrumah

MP for Ofoase-Ayirebi, Chairman of the NPP Policy Committee and Ranking Member of Parliament’s Economy and Development Committee, Kojo Oppong Nkrumah has described the government’s proposed new economy agenda as a “scam”, accusing the administration of repackaging what he calls failed promises under a new name.

Speaking at a press conference organised by the Minority in Parliament on Tuesday, November 10, 2026, the Ofoase-Ayirebi MP said the 2027 Budget would be marked by what he described as the rebranding of existing policies and the presentation of economic figures that do not reflect conditions faced by ordinary Ghanaians.

“Now, what you will realise on Thursday is that the 2027 Budget will be characterised by two things: the new economy scam. And this new economy is a scam. It's the old failed promises which have been repackaged with a new branding, some new colours,” he said.

Mr Oppong Nkrumah compared the proposed new economy agenda to the transformation of the Precious Minerals Marketing Company (PMMC) into the Ghana Gold Board (GoldBod).

He argued that the government was using new branding to present existing initiatives as fresh solutions.

“Just like how they did to the gold purchase programme which they now rebranded as Ghana Gold Board. So now when you hear them talking, they say, oh, Ghana Gold Board is the solution,” he said.

He also accused the government of rebranding its 24-Hour Economy policy as the new economy, describing the move as one of the defining features of the upcoming budget.

He further questioned whether the economic indicators the government is expected to present in the budget would translate into improved living conditions for households.

He argued that headline economic figures could give a different impression from what people experience in their daily lives.

“The other is that you are going to see that they will be publishing nice figures at the top which have no bearing with the reality in people's pockets,” he said.

He added that the economy reflected in official statistics was different from the financial conditions many Ghanaians were experiencing.

The government has outlined a proposed new economy agenda focused on commercial agriculture, energy, critical minerals, textiles and garments, tourism and pharmaceuticals.

The Minority has questioned the initiative, arguing that it represents a repackaging of the government's 24-Hour Economy policy.

Finance Minister Dr Cassiel Ato Forson is scheduled to present the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, 2026.