The government’s 2025 budget and economic policy statement were approved by cabinet on Friday.
At a press conference in Accra, Mr. Felix Kwakye Ofosu, the Presidential Spokesman and Minister of State in charge of Government Communications, revealed this.
He said that President John Dramani Mahama’s economic and financial policies will be reflected in the budget, which was submitted to Cabinet by Finance Minister Dr. Cassiel Ato Baah Forson.
“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 listed some of the Mahama Administration’s future key areas and stated that the budget would also address the economic problems that the New Patriotic Party (NPP) Administration had left them.
Therefore, we anticipate that the budget would address the goals and hopes of the Ghanaian people, upon which they gave the president a resounding mandate.
According to Mr. Ofosu, President Mahama has reduced the size of administrations and taken other steps to cut back on non-essential government spending.
The budget for the following year (2025) was postponed for the incoming administration to draft and propose to Parliament because 2024 was an election year in Ghana.
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.”
Source: newsthemegh.com