The Finance Minister Dr. Cassiel Ato Forson is now expected to present the 2025 Budget to Parliament on March 11, 2025.
This was after the initial date of March 10 proposed by the Ministry of Finance was changed because parliament does not sit on Mondays.
Majority Leader, Mahama Ayariga, who disclosed this to House today (February 14) announced that “the Finance Minister has now proposed March 11, 2025 as the new date to bring the budget to the House for consideration”.
2025 Budget preparation
The Finance Ministry has already sent out the broad guidelines to the various ministries to aid spending targets and programme inputs for the budget.
“However, these Ministers have been asked to prioritise, when it comes to their spending plans and programmes for 2025,” a source told JOYBUSINESS.
Government is planning to rationalize expenditure for 2025, as part of efforts to reduce the country’s debt stock.
The various ministries have been given timelines to submit inputs after which a final meeting will be held.
Inputs and focus of 2025 Budget
Government is hoping to use the policies and programmes in the 2025 Budget to kick start the process of resetting the economy and create the needed jobs through its flagship policy, the 24 Hour Economy Programme.
Dr. Forson is expected roll out some measures to remove taxes such as the betting tax, COVID-19 levy and the E-Levy.
The major challenges will be the blocking of an almost GH₵10 billion gap that will be created as result of the scrapping of the taxes.
In addition, the energy sector debt will be a major challenge that must be addressed since it has the potential of affecting Ghana’s economic recovery programme.
Dr. Forson, last week met with all the energy sector agencies, as part of efforts to take steps to deal with challenges facing the sector.
MF programme and 2025 Budget
The 2025 Budget will be heavily influenced by Ghana’s programme with the IMF.
This ensures that the programmes and policies are in line with IMF programme.
The IMF team led by Mission Chief Stephane Roudet is in town to engage government on the budget preparations, rounding up their meetings on Friday February 14, 2025.
Some economists have warned that the current focus of Ghana’s programme with the IMF may be difficult for the administration to roll out.
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