Ato Forson Set to Present First Budget as Finance Minister on March 11

Dr. Cassiel Ato Forson, Ghana’s Finance Minister, is scheduled to present his first budget to Parliament on Tuesday, March 11, 2024. This much-anticipated budget will provide an in-depth analysis of the country’s economic situation and lay out the government’s policy proposals aimed at revitalizing the economy. It will also reflect President Mahama’s broader vision for Ghana’s economic transformation.

Felix Kwakye Ofosu, the Minister for Government Communications, made the announcement during a media briefing after the first Cabinet meeting. He explained that the policies outlined in the upcoming budget will be influenced by recommendations stemming from the National Economic Dialogue, which is set to take place just a week prior, on March 3rd and 4th, 2025. The dialogue is expected to be a crucial event in gathering insights and perspectives that will help shape the government’s economic strategy.

In addition, Ofosu shared that Mr. Gossie Tandoh, the Presidential Advisor on the 24-hour Economy, is continuing with preparations for the implementation of President Mahama’s key policy initiative to transform Ghana’s economy. This initiative is a central part of the government’s plan to shift the country toward a more robust and resilient economic future.

Dr. Forson, during the Cabinet meeting, also addressed the current state of Ghana’s economy, revealing that the situation is worse than initially anticipated, particularly compared to the figures available before the elections. His assessment has painted a more alarming picture of the country’s financial health, indicating that significant measures will be necessary to address the challenges ahead.

The first Cabinet meeting, which aimed to set key benchmarks for the new ministers, included discussions on important policy areas such as national security, the agricultural transformation agenda, and the rollout of the 24-hour economy policy. The meeting also covered the current state of the economy and the necessary steps to address the pressing economic issues facing the country.

Overall, the upcoming budget presentation by Dr. Forson on March 11 is expected to be a critical moment for Ghana as the government seeks to tackle economic challenges and chart a path for recovery and growth in line with the administration’s vision.