GHANA’S Finance Minister, Cassiel Ato Forson, has unveiled an ambitious 2025 budget aimed at restoring economic stability, creating jobs, and driving development after years of financial turmoil. The GH¢227.8bn (about $15.3bn) budget outlines sweeping reforms, including significant investments in education, healthcare, infrastructure, and social protection.
‘This budget is about resetting the economy and restoring hope,’ Forson told Parliament during his presentation on Tuesday. ‘We are taking bold steps to ensure fiscal discipline and deliver tangible benefits to every Ghanaian.’
Fiscal discipline after years of indiscipline
Forson made it clear that his priority is restoring Ghana’s battered public finances. He criticised the previous administration’s fiscal indiscipline, blaming it for much of the nation’s debt crisis.
‘The overarching concern about free secondary education has been its quality and the absence of dedicated sources of financing,’ Forson said. ‘President John Dramani Mahama has resolved this by uncapping the GETFund, ensuring reliable financing for education.’
By removing spending caps on the Ghana Education Trust Fund (GETFund) and the Road Fund, Forson claims an additional GH¢4.1bn (about $276 million) will be freed up for education. Similarly, GH¢2.81bn (around $189 million) has been allocated to the Ghana Road Fund, up 155 percent from 2024.
Education and social protection get major boosts
Forson’s budget sets aside GH¢3.5bn (about $236 million) for the Free Senior Secondary School Programme, while free tertiary education for persons with disabilities and free sanitary pad distribution for schoolgirls will also be funded.
‘We are investing in our people,’ Forson said. ‘Education is not just a right; it’s a critical pillar for national development.’
Social protection programmes have seen significant increases:
- The LEAP programme will rise from GH¢728.8 million to GH¢953.5 million ($49 million to $64 million), raising the number of beneficiaries from 350,000 to 400,000.
- The School Feeding Programme budget will grow from GH¢1.3bn to GH¢1.78bn ($88 million to $121 million).
- Capitation Grant funding will rise from GH¢84 million to GH¢145.5 million ($5.7 million to $10 million), a 73 percent increase.
Healthcare also gets a lift with GH¢10bn (about $676 million) programmed for the National Health Insurance Scheme to cover claims, vaccines, and free primary health care.
Infrastructure, jobs, and agriculture at the centre
The government’s Big Push Programme has been allocated GH¢13.85bn ($937 million) to accelerate infrastructure projects and create employment.
Forson also announced GH¢1.5bn ($101 million) for the Agriculture for Economic Transformation Programme, which includes initiatives such as the Ghana Grain Development Project and vegetable farming schemes.
Other notable allocations include:
- GH¢300 million ($20 million) for the National Apprenticeship Programme.
- GH¢100 million ($6.7 million USD) each for the Adwumawura (Taskmaster) Programme, the National Codes Programme, and monthly allowances for assembly members.
- GH¢51.3 million ($3.4 million) towards establishing the Women’s Development Bank.
Resetting the economy: can it deliver?
Forson promised strict fiscal discipline and accountability, vowing to meet the International Monetary Fund (IMF) programme targets while pursuing economic reforms.
‘We remain steadfast in meeting the IMF programme targets while restoring Ghana’s creditworthiness,’ Forson assured. ‘Our commitment to reform will not waver.’
He concluded by urging all stakeholders—Parliament, businesses, civil society, and investors—to rally behind the reforms. ‘Together, we have the power to build a resilient economy that will help us tackle the challenges we face as a country,’ he said.
Will the ambitious plans materialise?
Forson’s budget is heavy on promises and ambitious targets. The success of these reforms hinges on effective implementation, political will, and public support. If delivered, the 2025 budget could mark a turning point in Ghana’s journey toward economic recovery and stability.
But with debt levels still high and inflation impacting households, Ghanaians will be watching closely to see if these plans translate into real improvements in their daily lives.
