PIED has lauded the 2025 budget as a progressive step but stresses the need for effective implementation to curb corruption. Key policies include eliminating specific levies and substantial social program funding. The Finance Minister called for support from all stakeholders to ensure successful execution and achieve desired societal resilience.
The Policy Initiative for Economic Development (PIED) has positively assessed the government’s interventions in the 2025 budget as being progressive, yet emphasizes the necessity of effective implementation. In an interview, Dr. Daniel Ameteye Amin-Prempeh, Chief Economist at PIED, stated that while the policies are promising, the real challenge lies in translating these plans into action to eliminate corruption and inefficiencies that have hindered progress in the past.
Dr. Amin-Prempeh highlighted the importance of executing revenue and expenditure strategies effectively to ensure stability, which is crucial for future economic growth. Key proposed economic policies comprise the elimination of the Electronic Transfer Levy, COVID-19 Levy, and the 10 percent tax on betting winnings, alongside other tax and levy cancellations related to emissions and motor vehicle insurance.
Social initiatives in the budget include allocations of GH₵3.5 billion for the Free Senior High School programme and GH₵499.8 million for the No-Academic-Fee policy for first-year students in public tertiary institutions. Additional support totaling GH₵242.5 million is earmarked for victims of the Akosombo dam spillage and GH₵200 million for those affected by the tidal waves in Ketu South, alongside GH₵292.4 million for distributing free sanitary pads to female students.
Dr. Amin-Prempeh advised that the sanitary pad initiative should be procured locally to strengthen Ghanaian businesses, cautioning against mismanagement. He also warned against continuing initiatives from the previous administration without evaluation. Finance Minister Dr. Cassiel Ato Baah Forson reiterated the government’s commitment to a 24-hour economy policy aimed at fostering growth and urged various stakeholders to support the budget’s implementation as it lays the groundwork for a resilient society.
The assessment of Ghana’s 2025 budget by PIED reveals a framework for progressive economic policies alongside significant social initiatives. Effective implementation is crucial to mitigate corruption and ensure that benefits reach intended recipients. With considerable allocations for education, disaster recovery, and women’s health, the budget intends to form the backbone of a resilient and equitable society. Stakeholder support is essential for the successful realization of these policies, reinforcing the government’s commitment to sustainable economic growth.
Original Source: gna.org.gh
