2025 Budget: GHS67.5bn owed to contractors and suppliers – Ato Forson

Finance Minister Dr. Cassiel Ato Forson has disclosed that Ghana’s central government owes GHS67.5 billion to contractors and suppliers, amounting to 5.2% of GDP as of December 2024.

Presenting the 2025 Budget, he highlighted that the road sector alone accounts for GHS21 billion of the arrears.

Upon taking office in January 2025, Dr. Forson initiated an audit of outstanding payments across Ministries, Departments, and Agencies (MDAs), confirming the substantial debt burden.

This figure excludes additional debts, including $1.73 billion owed to Independent Power Producers (IPPs), GHS68 billion by the Electricity Company of Ghana (ECG), GHS32 billion by COCOBOD, and GHS5.75 billion by the Ghana Road Fund.

He also noted the Bank of Ghana’s request for a GHS53 billion bailout due to negative equity concerns.