Dr Priscilla Twumasi-Baffour, an economist and senior lecturer at the University of Ghana Business School, has described growth projections in the 2025 Budget as conservative.

Speaking on JoyNews’ Newsfile programme on Saturday, 15th March 2025, she noted that while the government's 4% growth forecast is realistic, it falls below the 4.7% projection by the International Monetary Fund (IMF).

Her comments followed the presentation of the 2025 Budget Statement by Finance Minister Dr Cassiel Ato Forson on Tuesday, 11th March.

The budget outlined measures to stabilise the economy and stimulate growth, but Dr Twumasi-Baffour believes that the government’s cautious projection reflects economic uncertainties and a measured approach to recovery.

“The government’s growth estimate appears to be on the lower side, especially considering the IMF’s more optimistic outlook of 4.7%,” she remarked.

She further explained that external factors, including global economic conditions and Ghana’s fiscal constraints, may have influenced the government’s modest forecast.

However, she pointed out that if key sectors such as agriculture, industry, and services receive the necessary support, the economy could perform better than anticipated.

“If the right policies are implemented effectively, we could see growth exceeding the 4% target,” she noted.

Dr Twumasi-Baffour also highlighted the importance of structural reforms to drive long-term economic expansion.

She urged the government to focus on enhancing productivity, promoting local industries, and improving the business environment to sustain growth beyond 2025. “

Achieving higher growth requires deliberate efforts to address structural bottlenecks and improve investor confidence,” she advised.