E-Levy and Betting Tax Set to Go as Finance Minister to Present 2025 Budget on March 11
Government to Unveil Bold Tax Reforms and Economic Strategies Aimed at Stabilizing Ghana’s Economy
- The government plans to scrap the E-Levy, betting tax, and COVID-19 levy to ease fiscal pressures
- The budget will outline strategies for stabilizing the economy under the IMF-supported program
- Key priorities include expenditure control, energy sector debt management, and exchange rate stabilization
Finance Minister, Dr. Cassiel Ato Forson, is set to present the maiden budget of the Mahama administration to Parliament on Tuesday, March 11, 2025.
This follows Parliament’s approval of a GHȼ68 billion mini-budget in January to cover government expenditures for the first quarter of the year.
The Presidency has also proposed February 27, 2025, as the date for President John Mahama’s first State of the Nation Address under the new administration.
The upcoming budget is expected to outline key economic policies, spending priorities, and strategies to stabilize the economy.
“The Finance Minister has now proposed March 11, 2025, as the new date to bring the budget to the House for consideration,” Majority Leader Mahama Ayariga announced on the floor of Parliament.
The government plans to scrap major revenue measures—including the E-Levy, betting tax, and COVID-19 levy—in its first budget to ease fiscal pressures and reduce reliance on imported goods.
These initiatives are part of a broader strategy to strengthen macroeconomic stability and enhance Ghana’s economic outlook under the IMF-supported program.
Government and the International Monetary Fund (IMF) have been meeting to refine fiscal policies ahead of the 2025 budget presentation.
Key issues dominating the engagements include tax cuts, revenue administration reforms, energy sector debt management, expenditure controls, and exchange rate stabilization.
The outcome of the talks could significantly influence Ghana’s policy direction, balancing fiscal consolidation with measures aimed at spurring economic growth.
Economist Dr. John Kwakye of the Institute of Economic Affairs (IEA) has advised the government to strike a balance between spending and revenue generation while critically evaluating capital expenditures to sustain economic growth.
He emphasized the importance of prioritizing projects with high economic returns and ensuring efficient use of public funds to avoid exacerbating fiscal challenges.
