E-Levy and COVID-19 Levy to be Abolished in 2025 Budget

Accra, Ghana - 10 March, 2025 - Ghana's government is set to unveil its 2025 budget on Tuesday, March 11, with significant tax cuts and policy changes aimed at revitalizing the economy.

The budget, which will be presented by the Finance Minister, Dr. Cassiel Ato Forson is expected to abolish the Electronic Levy (E-Levy) and the COVID-19 levy, as well as remove a 10% tax on bet winnings and the emissions levy, as part of the government's 120-day Social Contract.

This contract outlines 26 key pledges to revitalize the economy and improve living standards.

Other significant initiatives to be introduced in the budget include the launch of the 24-Hour Economy Policy, a 'No-Academic-Fee' policy for first-year students in public tertiary institutions, and the establishment of a Women's Development Bank. The government has also vowed to implement key job creation programs.

Minister of State for Government Communications, Felix Kwakye Ofosu, has assured that the government is committed to meeting its campaign promises, including addressing the country's currency depreciation.

According to him, the Finance Minister is expected to outline measures to tackle this issue in the budget.

“The finance minister has clearly indicated that we are on course to meeting those promises. So when on Tuesday he unveils the details of his budget, you will find that we have kept faith with the people of Ghana regarding the specific promises we made in the 120-day social contract,” Ofosu stated while addressing journalists in Accra on Friday, March 7.

“In terms of the currency, the finance minister will highlight measures both within the long term and medium term to address the financial weaknesses within our economy, one of which is rapid currency depreciation.

Source: Lead News Online