2025 Budget: We’ll cut govt spending to reduce debt – Ato Forson
Finance Minister Dr. Cassiel Ato Forson has assured Ghanaians that the government will focus on reducing the fiscal deficit and public debt by cutting spending rather than relying solely on tax measures.
Presenting the 2025 Budget Statement to Parliament on Tuesday, March 11, Dr. Forson highlighted the concerns raised by Ghanaians during the recent National Economic Dialogue.
“Mr. Speaker, Ghanaians, through the recent National Economic Dialogue, have expressed a clear desire for the fiscal deficit and public debt to be reduced through cuts in government spending rather than through only tax measures. We wholeheartedly agree!” he stated.
He emphasized that the government will align its expenditures with the country’s fiscal realities, adding, “Whoever pays off their debt gets rich.”
To achieve this, Dr. Forson announced a three-pronged approach, starting with the 2025 budget. The strategy includes recalibrating fiscal adjustments and implementing economic reforms described as “shock therapy” to restore stability and growth.
