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 to finance critical fiscal needs.
Speaking on Joy News’ AM Show on Wednesday, March 12, just a day after Finance Minister Dr. Cassiel Ato Forson presented the 2025 Budget Statement, Mr. Terkper confirmed the borrowing plans.
“About GH¢57 billion is going to be borrowed,” he stated, adding that the funds would come from both foreign and domestic sources. He further clarified that while the government is borrowing, provisions have been made for amortization, meaning that some of the funds will go toward repaying existing debts.
Mr. Terkper explained that the new loans will support Ghana’s budgetary needs, sustain public services, and drive economic growth. The borrowing is part of a broader strategy to ensure that key development projects and essential services continue without disruption.
The 2025 budget, as outlined by Dr. Ato Forson, includes financial allocations totaling GH¢43.3 billion for critical sectors such as education, infrastructure, social protection, and disaster relief.
