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The 2025 budget statement presented by Finance Minister Dr. Cassiel Ato Forson has sparked mixed reactions in Parliament, with Minority Leader Alexander Afenyo-Markin describing it as an “Azaa” (deceptive) budget.
According to Afenyo-Markin, the government failed to include its much-discussed 24-hour economy policy in the budget, leaving many, especially the youth, disappointed.
“We have witnessed what can best be described as an ‘Azaa’ budget. Their own much-talked-about 24-hour economy—the President came here and said it was not ready. Now the Finance Minister presents the budget, and it is still missing. The youth of this country have been waiting for the 2025 budget, but the minister tells us that the policy will be introduced later,” Afenyo-Markin stated on the floor of Parliament.
In contrast, Majority Leader Mahama Ayariga defended the budget, calling it a strong and reform-driven financial plan.
“The budget provides solid reforms, moving our growth from a galamsey economy to a real economy,” Ayariga remarked.
During the budget presentation on Tuesday, March 11, Dr. Forson announced that the government is establishing the Ghana Gold Board (GOLDBOD) to enhance foreign exchange inflows and gold reserve accumulation.
To achieve this, GOLDBOD will regulate and oversee the purchasing, assaying, refining, exporting, and selling of gold in Ghana.
Additionally, Dr. Forson stated that the government is implementing an urgent economic recovery program to stabilize the Ghana Cedi and strengthen macroeconomic conditions.
“In addition, we are developing a deliberate policy to build economic buffers through external reserves to cushion the Ghana Cedi,” he noted.
Although the highly anticipated 24-hour economy policy was not included in the 2025 budget, Dr. Forson assured Parliament that it would be formally presented for approval.
The policy, a key initiative of the Mahama-led National Democratic Congress (NDC) government, is designed to increase economic productivity by encouraging businesses to operate round the clock.
“The Mahama-led NDC government is committed to the pursuit of the 24-hour economy policy,” Dr. Forson stated.
He emphasized that the initiative has the potential to create jobs, foster sustainable economic growth, and maximize the use of infrastructure and resources across various sectors.
The Finance Minister assured Parliament that measures are being developed to ensure a smooth implementation, including incentives for businesses willing to extend their operating hours.
As part of the government’s broader economic transformation strategy, Dr. Forson urged lawmakers to support the 24-hour economy policy when it is officially introduced, emphasizing the need for collaboration between the public and private sectors.
