Finance Minister Dr. Cassiel Ato Forson has presented the 2025 Budget to Cabinet for scrutiny, ahead of its presentation to Parliament on March 11.
The Cabinet meeting, chaired by President John Mahama, aimed to ensure the budget and key policy proposals receive full government endorsement.
Dr. Forson emphasized the need for expenditure cuts due to the current economic challenges.
While the specific areas for cuts remain undisclosed, the Finance Minister stressed the importance of fiscal discipline.
He also proposed rationalizing the current tax structure, including the Value Added Tax.
The final budget document is set to be presented to Parliament on March 11, 2025, where it will undergo further scrutiny and debate.
Dr Cassiel Ato Forson will present his first budget to parliament on Tuesday, March 11, 2025.
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 in line with Mahama’s vision.
Ahead of the budget presentation, President John Dramani Mahama has presided over a crucial cabinet session today, March 7, 2025, to finalize discussions on the 2025 national budget.
The high-level meeting tackled Ghana’s most pressing economic challenges, focusing on strategies to stabilize the economy, enhance public sector efficiency, and drive infrastructure development. Economic diversification and fiscal discipline are also anticipated to be key themes in the upcoming budget.
The Minister for Government Communications, Felix Kwakye Ofosu, who earlier disclosed the date for the budget presentation at a media briefing after the government’s first Cabinet meeting, said that the policies to be announced in the budget will be informed by recommendations after the National Economic Dialogue, which will take place a week earlier, on March 3rd and 4th, 2025.
“The Presidential Advisor on the 24-hour Economy, Mr Gossie Tandoh, proceeded with preparations for the full rollout of President Mahama’s primary policy to transform Ghana,” he said.
“The Finance Minister, Dr Cassiel Ato Forson, also informed the Cabinet that the economic situation is dire. The figures are even worse than we had known before the elections,” Mr Ofosu-Kwakye said.
