Minister of Finance, Dr Cassiel Ato Forson says the cocoa sector is in dire need of revival.
He made this revelation in Parliament during the 2025 budget presentation.
According to him, high debt in the sector is leading to its collapse.
Dr. Ato Forson revealed to Parliament on Tuesday, March 11 that “COCOBOD’s outstanding debt stands at Ghc32 billion.”
He stressed “The cocoa sector is sadly on its knees, with unsustainable debts. Cocoa production had dropped nearly by 50 per cent over the past three years.”
The Finance Minister further said that President John Dramani Mahama will restore hope in the economy.
He says the President is taking steps to remedy the challenges in the economy.
“He will fix the economy, restore hope and build the Ghana we want,” the Finance Minister said.
The Finance Minister told Parliament that the President Mahama administration inherited an economy deep in crisis and hard hit with debts from the erstwhile Akufo-Addo government.
In the area of procurement, the Finance Minister assured that the Mahama administration will comply with the public procurement process and link them to the approved budget.
“We will respect limit of the appropriations as approved by Parliament,” he said.
Regarding the 24 Hour Economy, the Finance Minister assured that “We will be presenting the 24-hour economy policy to Parliament in due course.”
