Finance Minister to present 2025 Budget tomorrow
As Ghana grapples with a fragile economy, Finance Minister Dr. Cassiel Ato Forson is poised to present the 2025 Budget and Policy Statement on Tuesday, March 11, 2025. The Minister, in a recent engagement with the youth on social media platform X Spaces, highlighted the critical role the budget would play in stabilising the country’s economy and paving the way for long-term recovery.
In a candid conversation with social media influencer KalyJay, Dr. Forson acknowledged that despite the government’s ongoing efforts to mitigate the country’s financial woes, Ghana’s economic situation remains in distress. “Let me make this point: let’s not deceive ourselves that the country is out of the woods yet. Our economy is still in distress,” he warned, emphasizing that restoring stability would be the primary focus.
Dr. Forson, who has long been at the forefront of Ghana’s fiscal policy, underscored the importance of the 2025 budget as a tool to address the nation’s pressing economic challenges. He assured the public that the government would implement measures designed to ensure macroeconomic stability. These initiatives, according to the Minister, would focus on controlling inflation, stabilising the exchange rate, and creating a more predictable economic environment. “What we can do is to put together a framework where there will be a stable exchange rate, stable inflation, and a stable economy,” he explained.
One of the significant proposals Dr. Forson pointed out is the government’s commitment to reducing domestic borrowing, a move aimed at freeing up financial resources for the private sector. By cutting down on government expenditure and borrowing, the Finance Minister believes more resources will be available to drive business growth, thereby stimulating economic expansion. “It is very critical for the government to cut expenditure and reduce its appetite for borrowing. In doing so, there will be a lot more resources for the private sector to benefit from,” he remarked.
The government’s engagement with citizens on the budget is not just about top-down policy formulation, Dr. Forson stressed. Referring to his recent meeting with traders in Accra’s Central Business District, he highlighted the importance of public input in shaping the final budget presentation. He was keen to dispel any doubts about the government’s commitment to listening to the voices of the people. “I do not take the people of Ghana for granted. I am not here because I just wanted to. I am here because I want to hear your take—ignore the propaganda out there,” he affirmed.
This youth engagement session is part of a broader initiative to involve Ghanaians, particularly the younger generation, in discussions about the country’s economic future. By fostering dialogue between policymakers and the populace, Dr. Forson is keen on ensuring that government policies reflect the needs and aspirations of the people.
With Ghana’s economic recovery hanging in the balance, all eyes will be on the Finance Minister’s budget presentation this Tuesday. If the proposed measures are successfully implemented, they could offer a much-needed lifeline to the economy, providing a path toward stability and sustainable growth. However, as Dr. Forson cautioned, the road to recovery will require continued effort, determination, and a collective commitment to tackling the country’s economic challenges head-on.
