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Ghana to Finance GH¢56.9 Billion Budget Deficit with Foreign and Domestic Support – Finance Minister

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Finance Minister Dr. Cassiel Ato Forson has announced that Ghana’s budget deficit for 2025, projected at GH¢56.9 billion, will be financed through a combination of foreign and domestic sources.

Presenting the 2025 budget statement in Parliament on behalf of President John Dramani Mahama, Dr. Forson disclosed that total foreign net financing will amount to GH¢21.4 billion, representing 1.5% of GDP.

The Finance Minister outlined that Ghana’s foreign financing will include disbursements from the International Monetary Fund (IMF) under the Extended Credit Facility (ECF) programme, amounting to US$720 million. Additionally, the World Bank is expected to provide US$600 million under its Development Policy Operation (DPO) funding.

These external funds are aimed at stabilizing the economy, supporting government expenditures, and ensuring fiscal sustainability. However, with Ghana still grappling with debt management challenges, the reliance on both foreign and domestic borrowing will likely be a key point of discussion among policymakers and economic analysts.

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