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Finance Minister Dr. Cassiel Ato Forson has presented his inaugural budget, which has garnered praise from fellow economist and University of Ghana lecturer, Dr. Adu Owusu Sarkodie. The 2025 Budget, themed “Resetting Ghana for the economy we want,” was presented to Parliament on March 11.
Dr. Sarkodie expressed his satisfaction with the budget, describing it as “largely a stability budget”.
Dr. Sarkodie commended the Minister of Finance for cutting expenditure by GHC10b and refraining from introducing new taxes.
He noted that this move would enable businesses to build capital. However, he suggested that the proposal to abolish the electronic transfer levy could have been restructured instead of being removed entirely.
Dr. Sarkodie also recommended that the COVID-19 levy be repurposed for health-related expenditures, rather than being abolished. “COVID-19 levy should be scrapped. We can rename it and use it for health-related expenditure,” he stated.
Dr. Sarkodie’s comments were made during an appearance on The KeyPoints on March 15. His assessment of the budget highlights the government’s efforts to promote economic stability and growth. The budget’s focus on reducing expenditure and avoiding new taxes is expected to have a positive impact on businesses and the overall economy.
Story by Lawrence Odoom/Phalonzy
