In the 2025 Budget Statement and Economic Policy, the government has announced a number of measures meant to revitalize the economy, provide employment, and guarantee Ghanaians’ prosperity in a number of fields.
The government’s first budget was presented to the Ninth Parliament on Tuesday by Finance Minister Dr. Cassiel Ato Forson.
The elimination of certain taxes that the National Democratic Congress (NDC) had referred to as “regressive” and promised to do away with was a significant relief included in the budget.
According to Dr. Forson, the following taxes will be eliminated: the COVID-19 Levy, the 10% tax on winnings from wagers, the 1% E-Levy, the 1% Emission Levy, the VAT on auto insurance policies, and the 1.5% withholding tax on small-scale miners’ gains of raw gold.
Additionally, the government has said that GH¢100 million will be used to pay Assembly members’ allowances.
Under the 24-Hour Economic Policy, the government also plans to start implementing one of its hallmark programs, known as the “Big Push” policy, to promote sustainable economic growth and strategic infrastructure development.
According to Dr. Forson, GH¢13.85 billion has been set aside for the Big Push Program’s implementation.
The finance minister stated that GH¢300 million had been set aside for the National Apprenticeship Program, GH¢100 million for the “Adwumawura” Program, and GH¢100 million for the National Coders Program in order to fulfill the government’s pledge to provide young people with employable skills.
In the education sector, the government uncapped the GETFund to declare a distinct funding source for the Free Senior High School Program and the provision of free postsecondary education for PWDs.
Under the “No-Fees-Stress” campaign, the government also said that GH¢499.8 million would be allocated for the No-Academic-Fee policy for all first-year students in public tertiary institutions.
The budget included GH¢292.4 million to start giving away free sanitary pads to female students in elementary and secondary schools, one of the social intervention pledges.
Additionally, the government announced that GH¢242.5 million would be used to aid victims of the Akosombo dam spill and GH¢200 million would be used to aid those affected by the recent tidal wave disaster that forced residents of Agavedzi and the surrounding communities in the Ketu South constituency to relocate.
In order to reflect the rise in the cost of feeding each child a meal per day from GH¢1.50 to GH¢2.00, the financial allocation to the School Feeding Programme was increased from GH¢1.344 billion to GH¢1.788 billion.
In addition to GH¢480 million for nursing trainee allowances, the government announced GH¢203 million for teacher trainee allowances.
Source: newsthemegh.com