Africa-Press – Ghana. Dr Godfred Seidu Jasaw, the National Democratic Congress Member of Parliament for Wa East, says the government has unveiled ambitious plans to expand cocoa cultivation by 200,000 hectares and develop 100,000 additional hectares for oil palm plantations.
“Mr Speaker, in a bid to boost food security and improve farmers’ livelihoods, the government is committed to ensuring food security and agricultural modernization,” he said.
Dr Jasaw said on Wednesday during a parliamentary comment on the 2026 Budget Statement and Economic Policy in Parliament House, Accra.
According to the legislator, who is also the Chairman of the Committee of Food, Agriculture, and Cocoa Affairs in Parliament, the initiatives were expected to reduce food price inflation, improve farmers’ income, and create jobs in agriculture-related sectors. “Mr Speaker, we are implementing climate-smart agricultural practices, such as conservation agriculture and agroforestry, to enhance resilience and productivity,” he said.
Dr Jasaw told Parliament that the government had allocated GH¢3 billion to support these efforts, with projected Gross Domestic Product (GDP) growth of 6.3 per cent in 2025, driven by industry, mining, and agriculture sectors.
“Mr Speaker, we are optimistic that these initiatives will bring hope to our farmers and contribute to Ghana’s economic growth,” he noted.
Dr Cassiel Ato Baah Forson, the Minister for Finance, presented the 2026 Budget Statement and Economic Policy to Parliament on Thursday, November 13, outlining key initiatives to boost Ghana’s economy.
The budget on the theme: “Resetting for Growth, Jobs, and Economic Transformation” focused on job creation, accountability, and prosperity for all, with projected GDP growth of 6.3 per cent in 2025, driven by industry, mining, and agriculture sectors.
Among some of the key highlights of the presentation were tax reforms, where the minister announced the abolishment of the COVID-19 levy, reduction of the VAT rate, and increase of the VAT registration threshold to support small businesses.
On revenue measures, Dr Forson introduced road tolls, increased the Growth and Sustainability Levy for mining companies, and extended the Special Import Levy, adding that inflation was targeted to drop to 8 per cent by October 2025, below the International Monetary Fund’s (IMF’s) 11.9 per cent forecast.
“Mr Speaker, the budget also focuses on job creation, accountability, and prosperity for all, with a targeted inflation rate of 8 per cent by October 2025, below the IMF’s 11.9 per cent forecast,” Dr Forson told Parliament.
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