Finance Minister Dr. Cassiel Ato Forson has submitted the 2025 Budget to Cabinet for review ahead of its presentation to Parliament on March 11.

At the Cabinet meeting, chaired by President John Mahama, key policy proposals were discussed to ensure alignment with the National Democratic Congress’s campaign promises from last year’s election. The session also served to assess the political implications of the proposed measures.

Sources told JOY Business that Cabinet may review or even delay some policy proposals put forward by the Finance Minister.

Key Proposals

Among the proposed measures, Dr. Forson is pushing for significant cuts to government expenditure in response to ongoing economic challenges, although the specific areas of cuts remain unclear.

In addition, the Finance Minister outlined plans to rationalise the country’s tax system, including the Value Added Tax. The government has pledged to remove several taxes, including the Betting Tax, e-levy, and COVID-19 levy, in a move aimed at easing the financial burden on citizens.

Seth Terkper, the Economic Adviser to the President, expressed confidence that strict enforcement of tax compliance will help bridge the expected revenue gap resulting from the tax cuts.

Dr. Forson is set to present the final budget document to Parliament on Tuesday, March 11, 2025.

Source:TheDotNews