We Will Fix Ghana’s Economic Cancer – Finance Minister
Finance Minister, Dr. Cassiel Ato Forson has reiterated the Mahama administration’s commitment to salvage Ghana’s economy.
Presenting the 2025 budget statement before Parliament on Tuesday, March 11, the Minister revealed a sad situation of Ghana’s economy.
He touched on various sectors of the economy, principally disclosing Ghana’s debt incurred under the previous government.
“Domestic debt service alone programmed for the next 4 years is 150.3 billion cedis. Mr. Speaker, simply put, the interest and principal payment that will be due for payment beginning now for the next 4 years is GHC 150.3 billion. This represents 11.6 percent of GDP in domestic debt obligation alone”, he stated.
He added; “Beyond the domestic maturities, Ghana faces significant external debt service obligation for the next 4 years. For the next 4 years, we will be made to call upon to pay US$8.7 billion representing 10.9 percent of GDP with heavy concentration again in the year 2027 and 202.8”
He however assured the citizenry that the government is on track to fixing the economic problems.
“That is cancerous but I can assure you we will fix it”, he exclaimed.
Source: Ghmessenger.com
