By: Franklin ASARE-DONKOH
Finance Minister, Dr. Cassiel Ato Baah Forson, has hinted that the government through the Ministry of Finance, will seek the approval of Parliament to amend the Petroleum Revenue Management (PRM) Act, 2011, the Ghana Infrastructure Investment Fund (GIIF) Act, 2014 (Act 877), among others, to support the policies of government aimed at stabilising the economy and promoting inclusive growth.
Other acts the finance minister seeks to review are Minerals Income Investment Fund Act, 2018 (Act 978); Energy Sector Levies Act, 2015, (Act 899); Ghana Cocoa Board Act, 1984, PNDCL 81 (and its amendment); Earmark Funds Capping and Realignment Act, 2017 (Act 947); Public Procurement Authority Act, 2003 (Act 663) as amended with Act 914; Ghana Education Trust Fund (GETFund) Act, 2000 (Act 581); Fiscal Responsibility Act, 2018 (Act 982) and the Revenue Administration Act, 2016 (Act 915).
Dr. Forson gave the hint when presenting the 2025 Budget Statement and Economic Policy of the Government of Ghana on the floor of Parliament on Tuesday, March 11, 2025.
He also announced to the House that his outfit will be presenting the government’s flagship policy, dubbed “24-Hour Economy policy,” to Parliament in due course.
“In this respect, the Labour Act, the Ghana Investment Promotion Centre Act, and other enabling legislations will be reviewed.
Mr. Speaker, we remain committed to the pursuit of our 24-Hour Economy policy aimed at stimulating economic growth and job creation.
This policy will contribute to addressing Ghana’s structural economic challenges by creating an integrated, efficient, and increasingly export-driven industrial economy that fully utilises our national resources, capital, and labour power,” he said.
The Finance Minister again revealed that as part of efforts to stabilise the Cedi through foreign exchange and gold reserve accumulation, he will also submit a bill to provide a legal framework for the establishment of the Ghana Gold Board for the consideration of this Honourable House.
“Mr. Speaker, this Budget Speech is an abridged version of the 2025 Budget Statement and Economic Policy of Government.
I respectfully request the Hansard Department to capture the entire Budget Statement and Economic Policy of Government for the year ending 31st December 2025,” Dr Forson opined.
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