Dr. Ato Forson
The Finance Minister Dr. Cassiel Ato Forson has assured that the 2025 Budget will target and cut wasteful expenditure.
He added that government will also be seeking to rationalize spending, to ensure that more funds are advanced to sectors that will rather aid economic growth.
Dr. Forson disclosed this on X space (Twitter) with the youth.
The engagement brought together more than 60,000 participants on March 9, 2025.
Sectors to be affected
Responding to questions from the participants, Dr. Forson explained that the expenditure cuts will not affect growth and efforts to expand the economy.
He revealed that government will make some significant allocation, to the Agric sector as part of efforts to improve the country’s food security situation.
Dr. Forson was however tight lipped on the specific areas that the cuts will affect.
However JOYBUSINESS is learning that, capital expenditure and spending lines seen as not so essential across all the Ministries, Department and Agencies could be affected.
The minister also gave some strong indications that, the Total Expenditure for the year, could go down compared to the GH₵226.7 billion spent in 2024.
He pointed out that the economy is not in good state.
This, he explained will require new policy measures to help put the economy back on strong footing going forward.
“This may impact some of the project and programmes that government is planning to introduce this year”, he warned.
“We will front load the fiscal consolidation, programme to fast track efforts aimed at growing the economy and contain the rising debt stock”, he said.
Revenue measures
On revenue measures, Dr. Forson announced that government will roll out measures aimed at rationalizing the current tax structure in the country, targeting the Value Added Tax.
“We will also roll out programmes , that will help improve compliance when it comes to tax payments”.
He announced that, government has increased the daily food allowance per pupil under the School Feeding Programme to GH₵2.0 per day, adding that details will be announced in the 2025 Budget.
Budget Inputs and Engagements
Dr. Forson revealed that the Budget is not done yet. This he said provides the opportunity for all the views shared on the day to be captured.
The response follows criticism that the budget document has been completed hence the views will not be captured.
“These engagements are very important, and the views secured will be captured in the 2025 Budget”, he promised.
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