|
Getting your Trinity Audio player ready...
|
The Minister of Finance, Dr. Cassiel Ato Forson, is set to present the 2025 Budget to Parliament on March 10, pending approval from the House. This follows a proposal from the Finance Ministry in line with the Financial Administration Act, which requires the budget to be presented before March 31, 2025.
In January, Parliament approved a GH₵68.1 billion Expenditure in Advance of Appropriation to cover government spending for the first quarter under the John Mahama administration. Meanwhile, the Finance Ministry has issued guidelines to ministries, urging them to prioritize spending as part of efforts to manage Ghana’s debt.
The 2025 Budget is expected to focus on economic recovery and job creation through the 24-Hour Economy Programme. It will also propose the removal of taxes such as the betting tax, COVID-19 levy, and E-Levy, which could create a GH₵10 billion revenue shortfall. Additionally, energy sector debt remains a key concern, with Dr. Forson already engaging stakeholders on possible solutions.
Ghana’s IMF programme will heavily influence the budget, ensuring compliance with fiscal policies. An IMF delegation, led by Stephane Roudet, is currently in Ghana for discussions, expected to conclude on February 14, 2025.
Source :Myjoyonline.com
