Finance Minister, Cassiel Ato Forson has reiterated concerns over the economic challenges inherited by the National Democratic Congress (NDC) government from the Akufo-Addo administration.

Presenting the highly anticipated 2025 Budget Statement to Parliament on Tuesday, Dr. Forson described the economy as being in a dire state due to excessive debt, financial sector obligations, and unchecked expenditures.

"Mr Speaker hands on heart we inherited an economy in deep crisis, Mr Speaker, an economy had hit with debt,.. and financial sector payments. Re-commitment control and reckless spending have reversed the progress made in physical consolidation even under the IMF programme that commenced in the year 2023. Despite the measures introduced under the IMF-supported programme, the Finance Minister noted that economic distress persists.

He attributed this to the heavy sacrifices made by domestic bondholders, external creditors, and taxpayers, emphasizing that the nation is still grappling with the consequences of past mismanagement."Mr Speaker not withstanding the gains made under the IMF supported programme that was to achieve through the painful sacrifice of Domestic Bondholders external creditors and taxpayers the economy remains in distress," he added.

The 2025 Budget is expected to outline strategies aimed at restoring economic stability and addressing the fiscal challenges confronting the country.