More money, less taxes, and smarter spending: Finance Minister breaks down new economic reforms

Finance Minister Dr. Cassiel Ato Forson has highlighted key economic reforms following new laws signed by President John Mahama.

These include the repeal of the E-Levy, increased funding for social programs, and stricter fiscal rules to curb reckless spending.

Ghanaians will now enjoy tax reliefs such as the removal of VAT on motor insurance and the abolition of taxes on betting and lottery winnings.

Additionally, GH¢3.8 billion will be redirected to education, healthcare, and social welfare programs. The government is also tightening public procurement processes and introducing an Independent Fiscal Council to monitor spending.

With higher taxes on mining profits and oil revenues funding infrastructure under The Big Push, the reforms aim to ease financial burdens while ensuring long-term economic stability.