A social media user, has reacted to the praise singing of Finance Minister, Dr. Cassiel Ato Forson by the Ghanaian community after he presented the 2025 budget in parliament.
Even members of the opposition New Patriotic Party (NPP) have heaped praises on the Finance Minister, describing him as having done “exceptionally” well.
However an X user identified as @yabbanx has warned Ghanaians to manage their expectations.
To prove his point, a shared a video snippet of traders jubilating and praising former Finance Minister, Ken Ofori-Atta and former President Akufo-Addo after the first budget presentation in 2017 and wrote, “We have seen more than this before.”
Finance Minister Dr. Cassiel Ato Forson has presented the government’s fiscal policy to Parliament, outlining measures aimed at restoring the economy.
As part of these efforts, he announced the cancellation of several taxes, including the Betting Tax, COVID-19 Levy, and E-Levy, among others.
He also outlined some key policies and initiatives in the budget.
SECTION FOUR: KEY POLICY INITIATIVES AND
RESOURCE ALLOCATION
- Mr. Speaker, the key policy interventions to support the economic transformation and job creation
agenda include the following:
24-Hour Economy aimed at stimulating economic growth by creating an enabling environment for businesses and institutions to operate 24/7 in three shifts of eight hours each to boost production, promote productivity, and generate well-paying jobs.
We will be presenting the policy to Parliament in due course for consideration. Accordingly,
the Labour Act, the GIPC Act and other enabling legislations will be reviewed;
- roll out the implementation of our $10 billion “Big Push” policy for strategic infrastructural
development to open up the country and drive sustainable economic growth
and transformation under the 24-Hour Economy policy;
iii. The Ghana Gold Board (GOLDBOD). Mr. Speaker, we are establishing the Ghana Gold Board (GOLDBOD). Its primary objective will be to support foreign exchange inflows and gold reserve accumulation for the benefit of our dear country. To achieve this, the GOLDBOD shall regulate, oversee, monitor and undertake the purchasing, assaying, refining, exporting, selling and other related activities concerning the gold resources of Ghana;
- stabilise the Ghana Cedi and macroeconomy through an urgent economic recovery programme to shore up our foreign reserves.
In addition, develop a deliberate policy to build economic buffers through external reserves to cushion the Ghana Cedi;
- implement an Economic Transformation Agenda underpinned by structural reforms anchored
on promoting modernised agriculture, agri-business and value addition for import substitution, exports and jobcreation;
- complement monetary policy with fiscal and real sector policies to reduce inflation. Food
inflation will be reduced through the Agriculture for Economic Transformation Agenda (AETA) anchored in the 24-Hour Economy Policy;
vii. undertake key structural reforms to support inclusive economic growth, fiscal and debt
sustainability, sound public financial management, efficient public service delivery
and good governance;
viii. restructure the Bank of Ghana to strengthen its independence and operational efficiency to
deliver more effectively on its price, financial stability and development mandate;
- enhance social protection through the introduction of various social intervention programmes to complement existing programmes to alleviate the current economic hardships and protect the vulnerable; and
- use government procurement to drive a “Made-In-Ghana agenda to promote the production and consumption of made in Ghana goods. To demonstrate this commitment, I came to this budget presentation with a bag proudly made in Ghana by Horseman.
Ghana Labour Export Programme
- Mr. Speaker, beginning this year we will formalize the export of Ghanaian labour to other countries. This will ensure a structured and beneficial system for Ghanaian workers seeking employment abroad and create safer, legal pathways for them to work in foreign countries while protecting their rights and
welfare.
- This will also reduce illegal migration, prevent worker exploitation, and maximize the
economic benefits of remittances and boost foreign exchange earnings.
2025 Allocations to Key Policy Initiatives and Interventions
- Mr. Speaker, we will provide a Cedi equivalent of US$279 million as a revolving fund for the Ghana Gold Board (GOLDBOD) to be able to purchase and export at least 3 tonnes of gold per week from small scale miners.
- Mr. Speaker, we have allocated GH¢13.85 billion for the Big Push Programme.
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- Mr. Speaker, an amount of GH¢499.8 million has been allocated for the No-Academic-Fee policy for all first-year students in public tertiary institutions under the ‘No-Fees-Stress’ initiative.
- Mr. Speaker, we have allocated GH¢292.4 million to commence the distribution of free sanitary pads to female students in primary and secondary schools.
- Mr. Speaker, we have allocated GH¢242.5 million to support victims of the Akosombo dam spillage;
- We have also allocated an amount of GH¢200 million to support the victims of tidal wave disaster that recently displaced residents of Agavedzi and surrounding communities in the Ketu south constituency;
- Mr. Speaker, the overarching concern about free secondary education has been its quality and the absence of a dedicated source of funding. H.E President John Mahama has resolved the funding challenge by uncapping the GETFund. This makes available dedicated funds for the full financing of free secondary education and free tertiary education for Persons with Disability (PWDs).
- Consequently, the Capping and Realignment Act will be amended to uncap Ghana Education Trust Fund (GETFund) and amend the GETFund Act to provide for full funding of the Free Senior High School education.
- Mr. Speaker, this year the budget for the free secondary education programme is GH¢3.5 billion.
By uncapping the GETFund, we will be making available an additional GH¢4.1 billion to the
GETFund, specifically for the financing of the free secondary education programme and other related expenditures.
- Aside the uncapping of GETFund, we have also absorbed the debt service, made up of interest and principal, from the Daakye bond GETFund contracted.
- Mr. Speaker, we have also allocated an amount of GH¢564.6 million for the comprehensive provision of free curricula-based textbooks covering the following:
four (4) sets of KG books and workbooks for about 2.8 million learners;
- four (4) sets of primary textbook for 800,000 learners; and
iii. nine (9) sets of JHS 3 textbooks for 540,000 learners.
- Under the School Feeding Programme, budgetary provision has been increased from GH¢1.344 billion to GH¢1.788 billion in 2025, representing an 33% increase. The allocation for 2025 reflects an increase in the feeding cost per meal per child per day from GH¢1.50 to GH¢2.00, representing 33.3%.
- Mr. Speaker, government has allocated GH¢145.5 million to the Capitation Grant, up from GH¢84 million in 2024, this an increase of 73.2% over the previous year’s allocation.
- We have also allocated GH¢203 million for the payment of the Teacher Trainee allowances and another GH¢480 million for Nursing Trainee allowances.
- Mr. Speaker, we have uncapped the National Health Insurance Levy (NHIL). An amount of GH¢9.93 billion has been programmed for the National Health Insurance Scheme (NHIS) for:
i.claim payments;
ii.essential medicines;
iii.vaccines payments;
iv.the Free Primary Healthcare;
- the Ghana Medical Care Trust (MahamaCares); and
vi.bridging of the USAID financing shortfall, among others.
In 2025, Government will continue to implement reforms and increase budgetary allocations to enhance the implementation of the four targeted social protection programmes, namely NHIS, the LEAP Programme, the School Feeding Programme, and the Capitation Grant.
- Mr. Speaker, under the LEAP programme, benefits has been indexed to inflation and the number of beneficiary households will be increased from 350,000 to 400,000 from July 2025.
- The allocation for LEAP benefits has also been increased by 30.8% from GH¢728.8 million to GH¢953.5 million in 2025. Additionally, the budget for the School Feeding Programme as well as the cost of feeding per pupil per day has been increased by 33%.
- Similarly, the allocation to the Capitation Grant has been increased from GH¢84 million in 2024 to GH¢145.5 million in 2025, representing an increase of 73.2%.
- Mr. Speaker, we have also uncapped the Road Fund. An amount of GH¢2.81 billion has been programmed for the Ghana Road Fund to be used solely for road maintenance. This represents an increase of 155.5% over the 2024 allocation of GH¢1.1 billion.
- Mr. Speaker, we have allocated an amount of GH¢7.51 billion to the District Assembly Common Fund (DACF). In accordance with our decentralization policy objective, we propose to Parliament that a minimum of 80% of the funds should be sent directly to the District Assemblies to spur economic growth at the district level and deepen decentralization.
- Mr. Speaker, it is worth noting that, this is in stark contrast to what has happened to the District Assembly Common Fund (DACF) in recent years where less than 50 percent of the released amountto DACF goes to the District Assemblies, with a significant portion spent at the center.
- Mr. Speaker, we have allocated an amount of GH¢1.5 billion for Agriculture for Economic Transformation Agenda (AETA) of which Feed Ghana Programme, Ghana Grains Development Project, Vegetable Development Project and Nkokor Nketenkete are all key components.
- Mr. Speaker, we have also allocated GH¢51.3 million as seed fund for the establishment of the Women’s Development Bank.
- Mr. Speaker, we have also allocated GH¢300 million to the National Apprenticeship Programme.
- Mr. Speaker, we have also allocated GH¢100 million to the ‘Adwumawura’ Programme.
- Mr. Speaker, for the National Coders Programme, we have allocated GH¢100 million.
- Mr. Speaker, an amount of GH¢100 million has been allocated for the payment of monthly allowance to all
Assembly Members.
- Mr. Speaker, in response to the recent tidal waves disaster that displaced residents of Agavedzi and surrounding communities in the Ketu South constituency, we have also allocated enough resources to the Ministry of Works and Housing to address the challenge.
Sector Performance and Outlook
- Mr. Speaker, sector Ministers, will be presenting to this House a detailed sectoral performance and outlook as well as sector specific policy interventions to deal with the challenges at various MDAs.
- This is a departure from the norm where Ministers for Finance present detailed sectoral performance as part of the budget speech
Watch video:
We have seen more than this before 🤣😂 pic.twitter.com/1lK4HuGML3
— yaw. (@yabbanx) March 11, 2025
