24-hour economy and 4 other major interventions in 2025 Budget

The Finance Minister, Dr. Cassiel Ato Forson, on Tuesday, March 11, 2025, presented to Parliament a budget focused on transforming Ghana’s economy, boosting job creation, and stabilizing national finances.

Among the bold new initiatives announced, five key interventions stand out as the pillars of the government’s economic transformation agenda.

1. Introduction of a 24-Hour Economy

At the core of the 2025 Budget is the 24-Hour Economy policy, aimed at stimulating sustained economic growth. Dr. Forson explained that this policy would create an enabling environment for businesses and institutions to operate around the clock in three eight-hour shifts, thereby increasing production, promoting productivity, and creating well-paying jobs.

“We will be presenting the policy to Parliament in due course for consideration. Accordingly, the Labour Act, the GIPC Act, and other enabling legislations will be reviewed,” Dr. Forson noted.

2. $10 Billion “Big Push” Infrastructure Programme

To support the 24-Hour Economy and broader economic expansion, the government will roll out a $10 billion “Big Push” infrastructure development programme. The initiative aims to open up the country through strategic investments in roads, transport, energy, and industrial infrastructure, thereby driving sustainable economic growth and transformation.

3. Establishment of the Ghana Gold Board (GOLDBOD)

The government also announced the formation of the Ghana Gold Board (GOLDBOD), a new regulatory body aimed at enhancing Ghana’s foreign exchange reserves and overseeing the country’s gold resources.

“Its primary objective will be to support foreign exchange inflows and gold reserve accumulation. The GOLDBOD shall regulate, oversee, monitor, and undertake purchasing, assaying, refining, exporting, and selling of gold,” the Finance Minister emphasized.

Read Also: 2025 Budget: Gov’t announces major VAT reforms to ease tax burden on businesses and households

4. Ghana Labour Export Programme

To formalize labour migration and improve the welfare of Ghanaian workers abroad, the government will introduce the Ghana Labour Export Programme this year.

“This will ensure a structured and beneficial system for Ghanaian workers seeking employment abroad, reduce illegal migration, prevent worker exploitation, and maximize the economic benefits of remittances,” Dr. Forson explained, adding that it would also boost foreign exchange earnings for the country.

5. Women’s Development Bank

Fulfilling a key campaign promise, Dr. Forson announced the allocation of GH¢51.3 million as seed capital for the establishment of the Women’s Development Bank. The bank will focus on providing targeted financial support for women entrepreneurs to promote inclusive economic growth.

Other Significant Allocations in the 2025 Budget:

• Ghana Road Fund: An allocation of GH¢2.81 billion for road maintenance, marking a 155.5% increase from the previous year’s GH¢1.1 billion.
• District Assemblies Common Fund (DACF): A total of GH¢7.51 billion allocated, with a proposal that 80% of this amount should go directly to district assemblies, addressing long-standing issues of inadequate funding.
• Assembly Members’ Allowances: For the first time, GH¢100 million has been set aside for monthly allowances for all assembly members, recognizing their role in local governance.

Dr. Forson emphasized that these interventions are part of a broader effort to reset the economy, enhance governance, and promote inclusive development.

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