2025 budget presentation – Adomonline.com

Education Minister praises uncapping of GETFund in 2025 budget

Faridatu Seidu — Wed, 12 Mar 2025 12:08:21 +0000

Minister for Education, Haruna Iddrisu, has reiterated the government’s commitment to strengthening the financial foundation of the country’s education sector, praising the Finance Minister, Dr. Cassiel Ato Forson, for uncapping the Ghana Education Trust Fund (GETFund) in the 2025 Budget.

He says uncapping GETFund will enhance the administration of Ghana’s education sector as it will boost infrastructure expansion.

The Finance Minister presented the 2025 budget in parliament on Tuesday, March 11, 2025.

Speaking on Joy FM’s Super Morning Show on Wednesday, March 12, Mr. Iddrisu described the current efforts as “a good beginning and a good start,” highlighting key financial strategies aimed at ensuring sustainable educational development.

According to the minister, the government has identified three major steps to improve funding in the education sector.

The first step involves uncapping the Ghana Education Trust Fund (GETFund), allowing for an increase in financial resources allocated to educational infrastructure and programmes.

Secondly, the government plans to absorb the Daakye bond bills as part of the national public debt, a move aimed at relieving the education sector of financial pressures and ensuring a more stable allocation of resources.

He said the third and perhaps most significant initiative is dedicating GETFund solely to financing the Free Senior High School (SHS) policy.

“Three, to dedicate GETFund to the financing of the Free Senior High School,” he said.

This move, he explained, is expected to enhance the implementation and sustainability of the flagship education programme.

While acknowledging that these measures may not entirely address all financial challenges facing the education sector, Mr. Iddrisu maintained that they are necessary steps towards long-term improvements.

“Now, that may not be enough, but at least a good beginning,” he remarked.

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2025 Budget: DDEP defers major debt repayments to 2027, 2028 – Ato Forson

Faridatu Seidu — Tue, 11 Mar 2025 13:29:05 +0000

Finance Minister Dr. Cassiel Ato Forson has revealed that Ghana’s Domestic Debt Exchange Programme (DDEP) was strategically structured to push major debt repayments to 2027 and 2028, providing short-term financial relief.

Presenting the 2025 Budget Statement to Parliament on March 11, Dr. Forson explained that the restructuring was necessary to create fiscal space and improve the government’s ability to manage its financial commitments effectively.

“The DDEP was designed to allow Ghana to make significant repayments in 2027 and 2028, providing much-needed relief in the interim,” he stated.

He emphasized that this approach is crucial for ensuring debt sustainability and preventing future economic instability.

Dr. Forson reassured Parliament of the government’s commitment to implementing prudent financial policies that balance debt management with economic growth.

While acknowledging the challenges associated with the DDEP, he stressed its role in stabilizing the economy and ensuring Ghana meets its future debt obligations without compromising fiscal stability.

He added that the government would continue engaging stakeholders to maintain a well-managed debt repayment framework.

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2025 Budget: Ghana’s real GDP saw significant growth in 2024 – Finance Minister

Faridatu Seidu — Tue, 11 Mar 2025 13:26:03 +0000

Finance Minister Dr. Cassiel Ato Forson has announced that Ghana’s real Gross Domestic Product (GDP) recorded significant growth in 2024, highlighting the resilience of the economy despite global and domestic challenges.

Presenting the 2025 Budget Statement to Parliament on March 11, Dr. Forson noted that the country’s economic performance exceeded projections, reflecting the impact of policies implemented over the past year.

“Ghana’s real GDP growth in 2024 was remarkable, surpassing expectations and demonstrating the economy’s capacity for recovery,” he stated.

However, he acknowledged that part of the recorded growth included proceeds from illegal small-scale mining, commonly known as ‘galamsey.’

Dr. Forson assured that the government is working to balance economic growth with environmental sustainability while addressing fiscal vulnerabilities.

He reaffirmed the government’s commitment to strengthening key economic sectors and implementing policies that promote responsible and sustainable economic activities for long-term stability and inclusive growth.

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