Ato Forson to present 2025 budget to Parliament on March 11

Finance Minister Dr. Cassiel Ato Forson is scheduled to present the first budget of the Mahama administration to Parliament on Tuesday, March 11.

This follows Parliament’s approval of a GHȼ68 billion mini-budget in January, which was designed to fund 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 introduce key economic policies, outline spending priorities, and propose strategies to stabilize 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 announced on the floor of Parliament.

In its first major fiscal policy statement, the government plans to eliminate several revenue measures, including the E-Levy, betting tax, and COVID-19 levy, as part of efforts to ease financial burdens and reduce dependence on imports.

These measures are aligned with a broader strategy to reinforce macroeconomic stability and improve Ghana’s economic prospects under the IMF-supported program.

Ahead of the budget presentation, the government has been engaging with the International Monetary Fund (IMF) to refine fiscal policies. Discussions have centered on tax reforms, revenue administration, energy sector debt management, expenditure control, and exchange rate stability.

The outcome of these negotiations is expected to play a crucial role in shaping Ghana’s economic direction, balancing fiscal discipline with policies that promote growth.

Economist Dr. John Kwakye of the Institute of Economic Affairs (IEA) has urged the government to carefully manage spending while ensuring sustainable revenue generation. He emphasized the need to critically assess capital expenditures to maintain economic stability.

According to him, while infrastructure development remains vital, unchecked spending could deepen fiscal challenges. He advised policymakers to focus on projects with high economic returns and ensure the efficient use of public resources.