Ghana’s 2025 Budget has unveiled five key interventions aimed at transforming the country’s economy, boosting job creation, and stabilizing national finances. These initiatives were announced by Finance Minister Dr. Cassiel Ato Forson on Tuesday, March 11, 2025. 1. 24-Hour Economy The 24-Hour Economy policy seeks to stimulate sustained economic growth by enabling businesses and institutions to operate around the clock in three eight-hour shifts. This will increase production, promote productivity, and create well-paying jobs. “We will be presenting the policy to Parliament in due course for consideration. Accordingly, the Labour Act, the GIPC Act, and other enabling legislations will be...
Amin Adam Claims GOLDBOD is a Vehicle for ‘Looting’ Public Funds
Former Finance Minister Dr. Mohammed Amin Adam has made some serious allegations against the current administration, accusing them of setting up the Ghana Gold Board (GOLDBOD) as a way to misappropriate public funds. Specifically, he’s taking issue with the allocation of GH₵270 million to GOLDBOD, which he believes is not only unjustified but also a deliberate attempt to divert Ghana’s gold resources to benefit a select few within the governing National Democratic Congress (NDC) party. Dr. Amin Adam’s concerns were triggered by the current Finance Minister, Dr. Cassiel Ato Forson’s announcement on March 11, regarding a budgetary allocation to support...
Government Won’t Use Public Funds to Rescue Bank of Ghana- Finance Minister
Finance Minister Dr. Cassiel Ato Forson has made it clear that the government won’t be using taxpayer funds to bail out the Bank of Ghana (BoG) to the tune of ¢53 billion. This decision comes after the central bank’s request for a bailout due to its negative equity challenge under the previous Ernest Addison-led administration. Dr. Forson emphasized that the BoG’s financial struggles are a result of its own actions, having generated significant debt and deficits, leading to an unhealthy balance sheet and negative equity. “On the back of the report that showed the ¢60 billion hole, remember, in my...
Deputy Finance Minister Defends 3% Hike in Growth and Sustainability Levy
Deputy Finance Minister Thomas Ampem Nyarko has defended the government’s proposal to increase the Growth and Sustainability Levy on mining companies from 1% to 3% of their gross production. This move aims to boost national revenue generation, particularly when global commodity prices are favorable. According to Ampem Nyarko, the modest increment is necessary to ensure the government captures a fair share of revenue from the mining sector. He emphasized that this is a windfall tax, and with the economic rent accruing at about 14%, the current 1% levy is insufficient. “This is a windfall tax and the minister explained clearly...
2025 Budget: Patrick Boamah Spells Out Minority’s expectations.
Lawyer Patrick Boamah, Member of Parliament for Okaikwei Central, has outlined the minority’s expectations ahead of the 2025 Budget presentation by Finance Minister, Dr. Ato Forson, scheduled for Tuesday, March 11, 2025. The law maker outline the expectations of the minority where he stated that (the minority) will be expecting a clear cut policy and budgetary line for president Mahama 24 hour economy. Key Expectations: Clear Policy and Budgetary Line for 24-Hour Economy: Boamah emphasized the need for a well-defined policy and budgetary allocation to support President Mahama’s vision for a 24-hour economy. ” We in the minority will be...
2025 Budget Pivotal to Ghana’s Economic Revival – Ato Forson
Finance Minister, Dr. Cassiel Ato Forson, has sounded a note of caution, stating that despite recent efforts, the country’s economy remains in distress. Speaking during a youth engagement session, on X space, hosted by social media influencer KalyJay, Dr. Forson emphasized that Ghana is not yet out of the woods and requires careful measures to restore stability. “Let me make this point: let’s not deceive ourselves that the country is out of the woods yet. Our economy is still in distress, and the first thing we will need to do is to take measures to bring us back to the...
Education Minister urges Indonesia to establish Islamic Medical University in Northern Ghana
Education Minister, Haruna Iddrisu, is calling on the Indonesian government to establish an Islamic Medical University in Northern Ghana. This institution, according to the minister would help bridge the development gap between the northern and southern parts of the country, while strengthening educational and diplomatic ties between Ghana and Indonesia. The education minister believes that this university would accelerate the training of medical professionals in Northern Ghana, addressing the country’s shortage of medical doctors, particularly in rural areas. He also hopes that this collaboration would deepen the ties between Ghana’s Muslim community and Indonesia, the world’s largest Islamic nation. The...
President Mahama Defends Scaled-Down Independence Day Celebration
President John Dramani Mahama has defended the government’s decision to scale down Ghana’s 68th Independence Day celebration, citing the country’s severe economic crisis. Speaking at the Jubilee House, where the event was held instead of the traditional Black Star Square, Mahama emphasized the need for fiscal prudence in the face of financial challenges. The President revealed that last year’s Independence Day celebration in Koforidua cost the state GHS 15 million, while the previous year’s event in the Volta Region cost GHS 13.7 million. This year, initial estimates projected that at least GHS 20 million would be required to hold the...
Mahama Attributes Scaled-Back Independence Celebration to Economic Hardship
Former President John Dramani Mahama has attributed the government’s decision to host a scaled-back 68th Independence Anniversary celebration to the current economic hardship facing the country. Speaking during the 68th Independence Day celebration at the Jubilee House, Mahama noted that the economic challenges have left many citizens struggling, making it necessary for the government to adopt a more modest approach to celebrating the nation’s independence. “The decision to scale back this year’s celebration is a clear indication of the economic hardship we are facing as a nation,” Mahama said. The former President’s comments come as Ghanaians mark 68 years of...
It’s time for lasting peace to prevail in Bawku – President Mahama
President John Dramani Mahama has made a passionate appeal for lasting peace to prevail in Bawku and its surrounding areas. Speaking at Ghana’s 68th Independence Day celebration at the Jubilee House, Mahama emphasized that the time for peace is now, urging all factions to work towards reconciliation. The President lamented the devastating impact of the long-standing conflict on the younger generation, who deserve to grow up in a peaceful and stable environment. “Our children deserve to inherit a peaceful land where their minds are nurtured, not where their nightmares are relived,” he stated. Mahama called on communities to build positive...