2025 budget will be conservative – Lord Mensah

Professor Lord Mensah, an economist and Finance lecturer at the University of Ghana Business School, anticipates a restrained 2025 budget that will moderate expenditures and scrap several taxes.

He expects that the government will adopt a conservative approach, ensuring essential spending is maintained while cutting waste. Key tax measures likely to be abolished include the COVID-19 levy, betting tax, and electronic transfer levy (e-levy).

Deputy Finance Minister-designate Thomas Ampem Nyarko has assured that no new taxes will be introduced. Meanwhile, Finance Minister Dr. Cassiel Ato Forson has outlined a strategy to reduce wasteful expenditure and prioritize domestic revenue generation, incorporating recommendations from the National Economic Dialogue.

These fiscal consolidation measures will be closely monitored by businesses and investors as Ghana works toward sustainable economic recovery while safeguarding essential public services.