Finance Minister Cassiel Ato Forson presented the 2025 Budget Statement and Economic Policy to Parliament on Tuesday, March 11, outlining a comprehensive blueprint to address Ghana’s economic challenges and set the nation on a path toward fiscal responsibility, debt sustainability, and job creation.
The budget, themed “Resetting the Economy and Restoring Hope,” reflects the government’s commitment to tackling fiscal indiscipline, mismanagement, and the burden of unsustainable debt repayments.
In his address, the Finance Minister acknowledged the severe economic distress facing the country, stating, “The state of the economy as I have just presented does not reflect an economy that has turned the corner; it reflects an economy in severe distress, burdened by debt repayment humps, mismanagement, and a lack of accountability.”
He emphasized that the budget is designed to reset the economy and restore hope for Ghanaians.
2025 Buget: A blueprint for fiscal discipline
The Finance Minister highlighted key outcomes from the National Economic Dialogue held on March 3rd and 4th, 2025, where citizens reaffirmed their faith in a better future, stressing that a key outcome of the Dialogue was the confirmation that the fundamental problem with our economy is fiscal indiscipline.”
He condemned the previous administration for awarding contracts outside the expenditure framework and borrowing beyond Ghana’s repayment capacity.
Ato Forson assured Parliament that the current administration, under President John Mahama, is committed to fiscal discipline and improved public service delivery.
“H.E. President John Mahama’s administration will be fiscally disciplined and deliver improved public services to our people in a cost-effective manner,”* he declared.
He also reiterated the government’s commitment to meeting IMF programme targets and restoring Ghana’s creditworthiness.
The budget outlined several achievements and ongoing initiatives, including the reduction of government ministers to 60, the scrapping of the E-Levy and betting tax, and the introduction of free tertiary education for people with disabilities.
The Mahama government, he said, has delivered on its promises, and is committed to delivering even more.”*
Key commitments in the budget include sustainable debt management, the implementation of a $10 billion Big Push Programme for infrastructure development, and the recovery of looted state funds under the *Operation Recover All Loot* initiative.
The Minister also emphasized the government’s focus on education, healthcare, and social welfare, with initiatives such as free primary healthcare, free textbooks for schoolchildren, and the distribution of sanitary pads to schoolgirls.
Ato Forson called for unity and collaboration to achieve the budget’s objectives.
“I call on Parliament, the business community, civil society, investors, and all citizens to support the bold reforms outlined in this budget. Together, we have the power to build a resilient economy that not only tackles today’s challenges but secures a prosperous future,” he stressed.
The Finance Minister invited stakeholders to join hands in building a better Ghana, indicating that the budget is not just about numbers but a blueprint for growth, stability, and opportunity and stressed, “With unity and determination, we can restore faith in our economy, foster innovation, and uplift every Ghanaian.”
The 2025 budget
By Osumanu Al-Hassan/thenewsbulletin24.com