ACCRA, March 12 (Xinhua)
The government of Ghana on Tuesday presented its 2025 budget to parliament, outlining measures to strengthen fiscal stability, drive economic growth, and create jobs.
Finance Minister Cassiel Ato Forson, who delivered the budget statement, said the plan aims to reset the economy and restore hope to Ghanaians facing severe economic hardships.
“We are taking bold steps to ensure fiscal discipline and deliver tangible benefits to every Ghanaian,” he said.
The government aimed to spend at least 227.8 billion Ghanaian cedis (about 14.6 billion U.S. dollars) to execute the annual budget for 2025 to boost economic growth, said Forson.
As part of the plans to revitalize the economy, the minister announced an accelerated infrastructure development program named The Big Push Program with 13.8 billion cedis in funding, which the government expects would create jobs for the youth and enhance economic development.
Forson emphasized the government’s commitment to rationalizing expenditure, eliminating wasteful spending, and improving domestic revenue mobilization by broadening the tax base.
Additionally, he said efforts will be made to increase non-tax revenue collection, enhance tax compliance, and modernize tax administration through digital technology. Meanwhile, the minister announced the abolition of several tax measures, including the electronic transactions levy, betting tax, and COVID-19 levies.
