The Finance Minister, Dr Cassiel Ato Forson has presented the 2025 Budget and Economic Policy to Parliament.
The theme of the Budget is “Resetting Ghana for the economy we want.”
He stated among others that government’s proposed 24-hour economy policy will be formally presented to Parliament for approval.
The policy, a key initiative of the Mahama-led National Democratic Congress (NDC) government, aims to boost economic productivity by encouraging businesses to operate around the clock.
He also told Parliament that the cocoa sector is collapsing.
He attributed this to high debts in the sector. “COCOBOD’s outstanding debt stands at 32 billion Cedis,” he said.
He stressed “The cocoa sector is sadly on its knees, with unsustainable debts. Cocoa production had dropped nearly by 50 per cent over the past three years.”
Dr Ato Forson assured that the Mahama’s administration will comply with the public procurement process and link them to the approved budget.
“We will respect limit of the appropriations as approved by Parliament.”
The Finance Minister further said that President John Dramani Mahama will restore hope in the economy.
He says the President is taking steps to remedy the challenges in the economy.
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