Budget Day: Ato Forson Set to Reveal 2025 Financial Roadmap Today
Accra, Ghana - 11 March, 2025 - Ghana's Finance Minister, Dr. Cassiel Ato Forson, is set to present the country's 2025 budget to Parliament today, marking a crucial step towards restoring stability to Ghana's struggling economy.
The budget presentation is in accordance with Article 179 of the 1992 Constitution and will outline the government's economic policy for the year ending December 31, 2025.
As Ghana works to recover from recent economic challenges, including high inflation and a volatile exchange rate, the budget is expected to provide a full breakdown of the economy and the government's policy proposals to reset and facilitate Ghana's economic transformation agenda.
According to Dr. Forson, the 2025 budget will prioritize fiscal discipline, revenue mobilization, and strategic spending allocations. The government aims to reduce primary expenditures, optimize revenue collection, and manage energy sector debt.
Some of the key measures expected to be outlined in the budget include:
- Aggressive cost-cutting: Reducing government borrowing from the treasury market to push banks to lend to the private sector
- Revenue mobilization: Improving tax compliance, rationalizing levies, and reviewing port charges to eliminate redundant fees
- Debt servicing: Resuming payments on Ghana's debts, including Eurobond repayments
- Fiscal consolidation: Implementing a credible fiscal policy to ensure realistic budgeting and effective management of allocated funds
The budget presentation comes at a time when Ghanaians are hoping for significant economic relief, including a drop in inflation, a reduction and removal of some taxes, the removal of the e-levy, and lower prices for commodities and petroleum products.
The government has already demonstrated a commitment to cost-cutting and economic prudence, with President John Dramani Mahama's decision to hold the 68th Independence Day celebration at the Flagstaff House instead of a grand stadium event to reduce expenditure.
The budget is also expected to provide more details on the government's plans to implement a 24-hour economy, a key campaign promise of President Mahama's administration.
Source: Lead News Online
