Chief Executive Officer of Dalex Finance, Joe Jackson, has described the 2025 Budget presented by Finance Minister Dr. Cassiel Ato Forson as a necessary intervention for Ghana’s economic recovery but cautioned that its success hinges on key financial projections materializing.
According to him, much of the government’s strategy relies on optimistic revenue projections, improved tax refund mechanisms, and overall economic confidence.
However, he warned that any external shocks—such as a sharp depreciation of the Cedi, a downturn in the cocoa sector, or a slump in gold prices—could derail the recovery plan.
His comment comes on the back of the Budget presentation by the finance minister, Dr Cassiel Ato Forson, in Parliament on March 11, where he outlined key interventions that the government is seeking to take to address the current economic crisis, which, according to some, was created by the previous administration.
Speaking on The Big Issues on Channel One TV on March 15, 2025, Jackson acknowledged the government’s efforts to stabilise the economy under the International Monetary Fund (IMF) program but emphasised that the budget carries significant risks.
“Given where we are with the economy, the IMF programme and as a nation, I think this was an essential budget. It was a good enough budget. Have they taken some really big bets, yes; some bets have been taken.
“The first bet is that our revenues will meet up with the level expected. Some interesting things have been done, for example with the tax refund regime. There is also a huge bet that there can be the optimism as we are seeing in the nation now will translate into good things. But those are bets.
“Any external shock and we are down. If the Cedi dives, we are in trouble. If we cannot revive the cocoa sector, we are in trouble, and if the gold, which has held us up, doesn’t hold up, we are in trouble.
Despite these concerns, he commended the Finance Minister for taking bold steps in addressing Ghana’s economic challenges.
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