Finance Minister, Dr Cassiel Ato Forson, has disclosed that the current government inherited a severely distressed energy sector, burdened with annual financing shortfalls exceeding $1.5 billion.
He made this known during the presentation of the 2025 Mid-Year Budget Review to Parliament on Thursday, 24 July 2025.
Dr Ato Forson described the energy sector as one that was "bleeding" upon assumption of office, citing unsustainable debts, poorly structured power purchase agreements, and inefficiencies that continue to weigh heavily on the economy. "We inherited a bleeding energy sector with annual financing shortfalls over $1.5 billion," he stated.
The Minister noted that the massive gap in financing had led to an accumulation of arrears and payment delays across the energy value chain, thereby undermining investor confidence and putting further pressure on public finances.
