Former Finance Minister and Presidential Adviser on the Economy, Seth Terkper, has disclosed that the government plans to borrow approximately GH¢57 billion in 2025.
He made this revelation during an interview on Joy News’ AM Show on Wednesday, a day after Finance Minister Dr. Cassiel Ato Forson presented the 2025 national budget in Parliament. According to Mr. Terkper, the new borrowing is expected to come from both foreign and domestic sources.
“About GH¢57 billion is going to be borrowed,” he stated, emphasizing that provisions have been made for repayment, also known as amortization.
“So this is new borrowing, and we will bring down the balance,” he added. He explained that the funds will be utilized to address the government’s fiscal needs and to support economic growth, ensuring that critical sectors continue to receive necessary funding.
The 2025 budget, presented by Dr. Forson, outlines financial allocations worth GH¢43.3 billion across key sectors, including education, infrastructure, social protection, and disaster relief.
Mr. Terkper noted that the borrowing strategy is aimed at financing the national budget while ensuring that essential public services and development projects remain uninterrupted.
