The Dalex Finance Chief Executive Officer (CEO), Joe Jackson, has hailed the 2025 Budget as a crucial step towards Ghana’s economic recovery, but warns that its success hangs precariously in the balance. According to Jackson, the government’s strategy relies heavily on optimistic revenue projections, improved tax refund mechanisms, and a surge in economic confidence.
However, Mr. Jackson cautioned that external shocks, such as a sharp decline in the Cedi’s value, a downturn in the cocoa sector, or a slump in gold prices, could derail the recovery plan. His comments come on the heels of Finance Minister Dr. Cassiel Ato Forson’s Budget presentation in Parliament on March 11, which outlined key interventions to address the current economic crisis.
Speaking on Channel One TV’s “The Big Issues” on March 15, 2025, which was monitored by the Ghanaian Radar, Mr. Jackson acknowledged the government’s efforts to stabilize the economy under the International Monetary Fund (IMF) program, but emphasised that the budget carries significant risks. “Given our current economic situation, the IMF program, and our national circumstances, I believe this budget was essential. It’s a good starting point, but the government has made some bold bets,” Jackson said.
“The first bet is that our revenues will meet expectations. Some innovative measures, such as the tax refund regime, have been implemented. However, there’s also a huge bet on the nation’s optimism translating into tangible economic gains. These are indeed high-stakes bets,” Jackson explained ¹.
He again cautioned that any external shocks could have devastating consequences. “If the Cedi plummets, we’re in trouble. If the cocoa sector doesn’t recover, we’re in trouble. And if gold prices don’t hold up, we’re in trouble,” he cautioned ¹.
Despite these concerns, he commended the Finance Minister, Dr. Cassiel Ato Forson, for taking bold steps to address Ghana’s economic challenges.
