Fiscal Restraint, Tax Cuts to Characterize 2025 Budget – Prof. Lord Mensah Says
Ghana’s 2025 budget is expected to adopt a conservative stance, with the government signaling plans to curb expenditure while eliminating several taxes, according to Professor Lord Mensah, an economist and finance lecturer at the University of Ghana Business School.
“I believe that with the signal they [government] have provided, we will see a conserved budget—one where expenditures will be carefully moderated without compromising essential services,” Prof. Mensah said.
Among the levies slated for removal are the COVID-19 levy, the betting tax, and the electronic transfer levy (e-levy). Meanwhile, Deputy Finance Minister-designate Thomas Ampem Nyarko has sought to reassure businesses and investors that the budget will not introduce any new taxes.
Finance Minister Dr. Cassiel Ato Forson has outlined a fiscal strategy centered on eliminating wasteful spending and strengthening domestic revenue generation. He also emphasized that recommendations from the recently concluded National Economic Dialogue will be integrated into the budget to promote a sustainable fiscal framework.
The government’s fiscal consolidation measures will be closely scrutinized by investors and businesses as Ghana seeks to balance economic recovery with the need to maintain public services.
