The 2025 budget, prepared by Dr. Cassiel Ato Forson, Ghana’s Minister of Finance, outlines the government’s fiscal policies and spending priorities for the upcoming year. Here’s an explanation of the budget’s key components:
# Revenue Measures
- *Tax Reforms*: The budget proposes a review of the tax system to ensure fairness, equity, and efficiency.
- *Revenue Mobilization*: The government aims to increase revenue through improved tax compliance, expanded tax base, and efficient revenue collection.
# Expenditure Allocation
- *Infrastructure Development*: The budget allocates significant funds for infrastructure development, including roads, bridges, and public transportation.
- *Education and Healthcare*: The government prioritizes education and healthcare, allocating funds for improved facilities, equipment, and personnel.
- *Agriculture and Food Security*: The budget supports the agricultural sector through initiatives such as irrigation, fertilizers, and farm mechanization.
# Economic Growth and Job Creation
- *Private Sector Development*: The government aims to promote private sector growth through initiatives such as tax incentives, access to credit, and business development services.
- *Job Creation*: The budget includes programs to create jobs, particularly for youth and women, through initiatives such as vocational training, entrepreneurship support, and apprenticeships.
# Fiscal Discipline and Debt Management
- *Fiscal Consolidation*: The government commits to fiscal discipline, aiming to reduce the budget deficit and stabilize the economy.
- *Debt Management*: The budget outlines strategies to manage Ghana’s debt, including debt restructuring, refinancing, and improved debt management practices.
# Social Protection and Welfare
- *Social Protection Programs*: The budget allocates funds for social protection programs, including cash transfers, food assistance, and other forms of support for vulnerable populations. – *Pension and Retirement Benefits*: The government commits to improving pension and retirement benefits for public sector workers.
# Conclusion
The 2025 budget, prepared by Dr. Ato Forson, outlines a comprehensive plan to promote economic growth, job creation, and social welfare in Ghana. The budget prioritizes fiscal discipline, debt management, and private sector development, while allocating funds for critical sectors such as education, healthcare, and infrastructure.
By Dr. Derrick kwaku Antwi (Ph.D)
(Lecturer, researcher , author )
0594957316
derrickantwi917@yahoo.com
