Dr Cassiel Ato Baah Forson, the Finance Minister on Tuesday, March 11, delivered the ruling National Democratic Congress’ (NDC) first Economic Policy and Budget Statement, after the Party’s return to power in the December 7 general election.
He stated that the state of the economy did not reflect an economy that had turned the corner; it reflects an economy in severe distress, burdened by debt repayment humps, mismanagement and a lack of accountability.
He said the 2025 budget sets Ghana on a path of fiscal responsibility, debt sustainability, macroeconomic stability and job creation; stating that it was about resetting the economy and restoring hope.
Dr Forson said the previous administration awarded contracts outside the expenditure framework; adding that they borrowed over and above Ghana’s capacity to repay.
The Finance Minister said President John Dramani Mahama’s administration would be fiscally disciplined and deliver improved public services to the people in a cost-effective manner.
He said the NDC administration remained steadfast in meeting the International Monetary Fund (IMF) programme targets while restoring Ghana’s credit worthiness.
“We have achieved a lot in a short time, but this is only the beginning. Our commitment to reform will not waver,” Dr Forson said.
“Those who doubt our resolve underestimate the determination of the people of Ghana, who will no longer tolerate ineffective governance.
“Together, we will navigate these turbulent times and emerge stronger.”
Dr Forson said they were committed to running a lean and efficient government of 60 ministers; saying “We have delivered!”
He said they were committed to Scrapping the E-Levy; “We have delivered!”
He said the Government was committed to scrapping the Betting (winnings) tax – “We have delivered!”
“We committed to eliminate academic fees for first year public tertiary students – We have delivered!” He said.
“We committed to providing free tertiary education for all People With Disability – We have delivered!”
Dr Forson said the Government was committed to having a dedicated source of funding for free secondary education; declaring that they had delivered!
He said they were committed to distributing sanitary pads to the nation’s schoolgirls, which they have delivered!
He said they were committed to uncap the GETFund, which they had delivered!
“We committed to uncap the National Health Insurance Levy (NHIL)– We have delivered! We committed to uncap the Road Fund– We have delivered! We committed to hold a National Forum on Education – We have delivered!,” he said
“We committed to hold a National Dialogue on the Economy – We have delivered! We are committed to deliver Free Primary Healthcare – We are delivering!”
Dr Forson said the Government was committed to deliver the MahamaCares programme to finance the treatment of non-communicable diseases; adding that they were committed to deliver free textbooks to school children.
“We committed to sustainable debt management – We are delivering! We committed to implement the $10 billion Big Push Programme for accelerated infrastructure development – We are delivering!”
He underscored their commitment to a Constitution Review process to build the Ghana they want together.
Dr Forson reiterated the Government’s commitment to Recover All Looted State Funds under our Operation Recover All Loot programme; declaring that they were committed to Reset Ghana.
