The Policy Initiative for Economic Development (PIED) commends Ghana’s progressive 2025 budget policies but emphasizes the need for effective implementation to curb corruption. Key measures include the removal of several taxes and significant allocations for education and disaster relief. The Finance Minister reaffirmed the commitment to support economic growth and encouraged widespread backing for the budget’s execution.
The Policy Initiative for Economic Development (PIED) has characterized the government’s 2025 budget policies as progressive, emphasizing the need for effective implementation. Dr. Daniel Ameteye Amin-Prempeh, PIED’s Chief Economist, stated that successful execution is crucial to minimize corruption and ensure financial stability.
Notable changes in the budget include the elimination of the Electronic Transfer Levy, the COVID-19 Levy, and a 10 percent tax on betting winnings. Additional removals encompass the Emission Levy, VAT on motor vehicle insurance, and the 1.5 percent withholding tax imposed on small-scale miners’ unprocessed gold yields.
The budget allocates funds for significant social initiatives, including GH₵3.5 billion for the Free Senior High School program and GH₵499.8 million for the No-Academic-Fee policy for first-year public tertiary students. Moreover, it designates GH₵242.5 million for victims of the Akosombo dam spillage and GH₵200 million for those affected by the tidal wave disaster in Agavedzi and Ketu South communities.
Additionally, a budgeted GH₵292.4 million will enable the distribution of free sanitary pads for female students in primary and secondary schools. Dr. Amin-Prempeh emphasized that local procurement of these supplies would bolster Ghanaian enterprises and urged the government to ensure the initiative reaches its intended beneficiaries.
Dr. Amin-Prempeh also advised against the uninhibited continuation of past programs like the Planting for Food and Jobs (PFJ). During the budget presentation, Finance Minister Dr. Cassiel Ato Baah Forson reiterated the government’s dedication to a 24-hour economy policy aimed at fostering economic growth and job creation, inviting support from various sectors for effective budget implementation.
The 2025 budget proposed by the Ghanaian government has been acknowledged as progressive by the Policy Initiative for Economic Development (PIED), underscoring the importance of effective execution to address corruption and promote stability. The budget encompasses significant fiscal measures and social programs aimed at improving educational support and providing assistance to disaster victims, illustrating the government’s commitment to fostering an equitable society. Stakeholder collaboration will be essential to ensure successful implementation and lasting impact.
Original Source: gna.org.gh
