Cabinet on Friday approved the Government’s 2025 Economic Policy Statement and Budget.
This was disclosed by Mr Felix Kwakye Ofosu, Presidential Spokesman and Minister of State in-charge of Government Communications at a press conference in Accra.
He said the Budget, which was presented to Cabinet by Dr Cassiel Ato Baah Forson, the finance minister, would encapsulate the Economic and Financial Policy of President John Dramani Mahama.
“For the 2025 financial year, the budget will capture the state of the Ghanaian economy and bring Ghanaians up to speed on what exactly we inherited,” Mr Ofosu stated
“Yes, the President made incursions into the state of the economy during the State of the Nation Address, but the Finance Minister will present greater details in terms of what we met.”
He said the Budget would also respond to the economic crisis bequeathed to them by the New Patriotic Party (NPP) Administration and indicated some priority areas of the Mahama Administration going forward.
And therefore, we expect that it is a budget that would speak to the hopes and aspirations of the people of Ghana, based on which they gave an overwhelming mandate to the President.
Mr Ofosu said President Mahama had taken some measures to reduce non-essential government expenditure, such as the reduction in the size of governments.
Article 179 states that: “The President shall cause to be prepared and laid before Parliament at least one month before the end of the financial year, estimates of the revenues and expenditure of the Government of Ghana for the following financial year.”
Because the year 2024 was an election year in Ghana, the Budget for the ensuing year (2025) was deferred for the incoming administration to prepare and present to Parliament.
GNA
