Finance Minister, Dr. Cassiel Ato Forson, will today present the 2025 Budget Statement and Economic Policy to Parliament, marking the first comprehensive financial roadmap of the Mahama administration since assuming office.
The highly anticipated budget is expected to outline bold policy measures aimed at stabilising the economy, fostering growth, and addressing the nation’s fiscal challenges.
With the country still grappling with high debt levels, inflation, and unemployment, all eyes are on Dr. Forson to unveil strategies that will provide relief to businesses and households while setting the country on a path to recovery.
A key highlight of the budget is the anticipated removal of several controversial taxes, including the Electronic Transfer Levy (E-Levy), the COVID-19 Health Levy, and the Betting Tax.
These levies, introduced by the previous administration, were widely criticized for increasing the financial burden on citizens.
The Mahama-led government, which campaigned on a promise to reduce the tax burden, sees this move as a crucial step toward easing economic hardships and stimulating business growth.
The elimination of these taxes is expected to benefit mobile money users, businesses, and individuals engaged in online betting, while also boosting overall economic activity.
However, the government will need to outline alternative revenue sources to compensate for the loss of these levies.
Beyond tax policy, the budget is also expected to focus on job creation, infrastructure development, and social interventions aimed at improving the livelihoods of Ghanaians.
Given the country’s economic challenges, the budget will serve as a critical test of the administration’s ability to balance fiscal discipline with pro-growth policies.
As Dr. Forson takes the floor in Parliament today, Ghanaians will be keenly watching for concrete measures that will define the economic trajectory of the country under the new government.
Credit: Abubakar Ibrahim
