By by Lawrence Odoom.
The 2025 Budget, submitted by Finance Minister Dr. Cassiel Ato Forson to the Cabinet, is currently under intense scrutiny ahead of its presentation to Parliament on March 11. Chaired by President John Mahama, the Cabinet meeting ensured that the budget and key policy proposals align with the promises made by the National Democratic Congress (NDC) during last year’s election campaign.
According to sources, the Cabinet may reconsider certain proposed policy measures, and Dr. Forson is likely to emphasize expenditure cuts in response to the current economic challenges. Although the specific areas affected by these cuts are unclear, the government has assured that it will remove certain taxes, including the Betting Tax, e-levy, and COVID-19 levy.
Dr. Forson also presented a plan to rationalize the current tax structure, including the Value Added Tax. The Economic Adviser to the President, Seth Terkper, expressed optimism that strict tax compliance will help bridge the expected revenue gap resulting from the removal of certain taxes.
The final budget document is expected to be presented to Parliament on March 11, 2025. Indeed , as the government navigates the complexities of budget planning, it remains committed to its promises and seeks to balance economic growth with fiscal responsibility.
