Finance Minister, Dr. Cassiel Ato Forson, is set to present the maiden budget of the Mahama administration to Parliament on Tuesday, March 11, 2025.
This follows Parliament’s approval of a GHȼ68 billion mini-budget in January to cover government expenditures for the first quarter of the year.
The Presidency has also proposed February 27, 2025, as the date for President John Mahama’s first State of the Nation Address under the new administration.
The upcoming budget is expected to outline key economic policies, spending priorities and strategies to stabilise the economy.
The Finance Minister has now proposed March 11, 2025 as the new date to bring the budget to the House for consideration”, Majority Leader, Mahama Ayariga made the announcement on the floor of Parliament.
The government is set to scrap major revenue measures—such as the E-Levy, betting tax and COVID-19 levy in its first budget—in a bid to ease fiscal pressures and reduce reliance on imported goods.
These initiatives form part of a broader strategy to strengthen macroeconomic stability and enhance Ghana’s economic outlook under the IMF-supported program.
Government and the International Monetary Fund (IMF) have been meeting to refine fiscal policies ahead of the 2025 budget presentation.
Issues that have been dominating the engagements include tax cuts, revenue administration reforms, energy sector debt management, expenditure controls and exchange rate stabilisation.
The outcome of the talks could significantly influence Ghana’s policy direction, balancing the need for fiscal consolidation with measures aimed at spurring economic growth.
Economist, Dr. John Kwakye of the Institute of Economic Affairs (IEA) has advised the government to strike a balance between spending and revenue generation while critically evaluating capital expenditures to sustain economic growth.
For him, while infrastructure investments are essential, unchecked spending could worsen fiscal challenges.
He urged policymakers to prioritise projects with high economic returns and ensure efficient use of public funds.
