Former Finance Minister and Presidential adviser on the economy, Seth Terkper, has announced that the government plans to borrow about GH¢57 billion in 2025.

Speaking on Joy News AM Show on Wednesday, Mr. Terkper made the revelation just a day after Finance Minister Dr. Cassiel Ato Forson presented the 2025 national budget in parliament.

"About GH¢57 billion is going to be borrowed," he said, and added "But here we made provisions for repayment, what we call the amortisation, so this is new borrowing and we will bring down the balance, and it's going to come from foreign and domestic sources."

Mr. Terkper explained that the borrowings would be used to address the government's fiscal needs and support economic growth.

According to him, the new borrowing target is part of a broader strategy to finance the country’s budget and ensure that key public services and development projects continue without disruption.

The Finance Minister in the budget has outlined financial allocations for various sectors and initiatives worth GH¢43.3bn, with a focus on education, infrastructure, social protection, and disaster relief.

Read also: Check out government’s ¢43.3bn allocation to various sectors of the economy