2025 budget lacks execution plan for 24-hour economy — Franklin Cudjoe

The Chief Executive Officer of Imani Centre for Policy and Education, Franklin Cudjoe, has questioned the absence of a clear implementation plan for the much-touted 24-hour economy policy in the 2025 Budget Statement and Economic Policy.

Speaking in a radio interview on Asempa FM on March 11, 2025, after Finance Minister Dr Cassiel Ato Forson presented the budget to Parliament, Mr Cudjoe acknowledged that the budget was well-structured and easy to understand but raised concerns about its effectiveness in tackling Ghana’s economic challenges, particularly unemployment.

“The budget was straightforward, well-presented, and without unnecessary jargon. But when you examine the details, especially on job creation, the interventions seem too modest to make a real impact on unemployment,” he stated.

Mr Cudjoe expressed disappointment over the lack of concrete details regarding the 24-hour economy, which was expected to be a key pillar of the Mahama administration’s economic recovery plan.

“The President and his government have spoken about the 24-hour economy, but there is little in the budget that explains how it will work. We were expecting clear policy guidelines, funding commitments, and incentives for businesses, but what we got instead is a promise that a document will be released later,” he said.

He warned that without well-defined policies and incentives, businesses may struggle to transition to a 24-hour operational model, limiting the impact of the initiative.

Beyond the 24-hour economy, Mr Cudjoe questioned the effectiveness of the government’s employment initiatives, including the Ghana Labour Export Programme, the Women’s Development Bank, and the National Apprenticeship Programme.

“These are not necessarily bad policies, but they are modest. They are unlikely to make a major impact on the unemployment crisis we face. If we are serious about job creation, we need bigger, well-funded interventions,” he argued.

He stressed that while structured labour migration could offer temporary relief, Ghana’s long-term solution must be rooted in domestic industrial expansion and a business-friendly environment.

Mr Cudjoe also commented on the government’s new social policies, such as free tertiary education for persons with disabilities, free sanitary pads for schoolgirls, and an increase in the school feeding budget. While describing these as commendable, he questioned their financial sustainability.

“These interventions are tangible and easy to track, but the real question is: where is the money coming from? The government says it is not raising taxes, but are we cutting enough waste to sustain these policies?” he asked.

He urged the government to provide a transparent financial framework to ensure these social programmes do not collapse due to funding shortfalls.

Despite his concerns, Mr Cudjoe acknowledged that the budget avoided excessive taxation and was presented in a manner that was easy for Ghanaians to understand.

“This is one of the few budgets that the average Ghanaian can listen to and make sense of. It is well-structured and clearly presented. But beyond the clarity, the substance of some policies remains a concern,” he added.