The Policy Initiative for Economic Development (PIED) has categorized the Ghanaian government’s 2025 budget policies as progressive, while emphasizing the importance of effective implementation. Key measures include tax removals and significant funding for education and social initiatives. Caution was advised against continuation of prior programs, with a call for collaboration among stakeholders to ensure success.
In a recent statement, the Policy Initiative for Economic Development (PIED) has acknowledged the Ghanaian government’s 2025 budget policies as progressive yet emphasizes the necessity for effective execution. Chief Economist Dr. Daniel Ameteye Amin-Prempeh noted, “On the whole, the policies sound quite progressive,” underscoring the importance of addressing corruption and loopholes that have affected implementation in the past.
Key proposed economic measures include the elimination of the Electronic Transfer Levy, COVID-19 Levy, and a 10 percent tax on betting winnings. Additionally, the removal of the Emission Levy, VAT on motor vehicle insurance, and the withholding tax on unprocessed gold winnings is being considered to foster economic growth and support local businesses.
Socially, the budget allocates GH₵3.5 billion to the Free Senior High School programme and GH₵499.8 million to waive academic fees for first-year students in public tertiary institutions. Notably, GH₵242.5 million is designated for victims of the Akosombo dam spillage, while GH₵200 million will support those affected by tidal waves in Ketu South. Furthermore, the budget includes GH₵292.4 million for the distribution of free sanitary pads to female students, with a suggestion for local procurement to benefit Ghanaian enterprises.
Dr. Amin-Prempeh cautioned against the uncritical continuation of previous administration initiatives, advocating for evaluation and adjustment. Meanwhile, Finance Minister Dr. Cassiel Ato Baah Forson reaffirmed the government’s dedication to a 24-hour economy policy aimed at driving economic growth and job creation. He called upon stakeholders, including Parliament and the business community, to support the effective rollout of the budget measures.
In conclusion, the 2025 budget proposed by the Ghanaian government is characterized as progressive with a strong emphasis on effective implementation to combat corruption and maximize benefits. Significant allocations toward education, disaster recovery, and women’s health herald an inclusive approach, although vigilance is advised against the uncritical adoption of prior initiatives. The commitment to creating a robust economy underscores the importance of collaboration among various stakeholders to ensure the successful execution of these policies.
Original Source: gna.org.gh
