Cabinet on Friday authorized 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 convention in Accra.
He mentioned the Budget, which was introduced 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 acknowledged
“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 mentioned the Budget would additionally reply to the financial disaster bequeathed to them by the New Patriotic Party (NPP) Administration and indicated some precedence areas of the Mahama Administration going ahead.
And due to this fact, we count on that it’s a funds that will converse to the hopes and aspirations of the individuals of Ghana, based mostly on which they gave an awesome mandate to the President.
Mr Ofosu mentioned President Mahama had taken some measures to cut back non-essential authorities expenditure, such because the discount within the measurement 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 12 months 2024 was an election 12 months in Ghana, the Budget for the following 12 months (2025) was deferred for the incoming administration to arrange and current to Parliament.
Source: GNA