Finance Minister Dr. Cassiel Ato Forson is set to present the 2025 Budget to Parliament on March 10, pending parliamentary approval.
This date has been proposed by the Ministry of Finance, but final approval depends on developments in the House.
According to the Financial Administration Act, the budget must be presented by March 31, 2025.
Earlier this year, Parliament approved a Mini Budget to cover government spending from January to March 2025, allocating GH₵68.1 billion for the first quarter.
The Finance Ministry has already provided guidelines to various ministries for spending targets and program inputs for the 2025 Budget.
The government plans to rationalize expenditure in a bid to reduce the country’s debt.
The 2025 Budget will focus on revitalizing the economy and creating jobs, particularly through the 24-Hour Economy Programme.
Dr. Forson is expected to announce measures to remove taxes such as the betting tax, COVID-19 levy, and the E-Levy, though this will create a GH₵10 billion gap to fill.
The energy sector debt remains a significant challenge, and efforts are underway to address it, as it could impact Ghana’s economic recovery.
He recently met with energy sector agencies to tackle these issues.
The 2025 Budget will also align with Ghana’s program with the IMF, ensuring that policies and spending are in line with IMF requirements.
The IMF team, led by Mission Chief Stephane Roudet, is currently in town to discuss budget preparations, with meetings concluding on February 14, 2025.
Some economists caution that meeting IMF demands may present challenges for the government.