The government of Ghana is set to unveil its 2025 budget on Tuesday, March 11, 2025, with a slew of measures aimed at easing the financial burden on citizens.
According to Minister of State for Government Communications, Felix Kwakye Ofosu, the budget will abolish several taxes and levies, including the E-Levy and COVID levy.
This move is part of the government’s efforts to fulfill its 120-day Social Contract, which promises to revitalize the economy and improve the lives of Ghanaians.
The contract outlines 26 key pledges, including the removal of the E-Levy and COVID levy, which are expected to be implemented within the administration’s first 90 days in office.
Ofosu assured that the government is committed to keeping its promises to the people of Ghana. “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,” he said.
The 2025 budget is also expected to introduce initiatives aimed at stimulating economic growth and development. These include reviewing taxes and levies on industrial and agricultural equipment, launching the 24-Hour Economy Policy, and implementing a ‘No-Academic-Fee’ policy for first-year students in public tertiary institutions.
Furthermore, the government plans to establish a Women’s Development Bank and introduce job creation programs to tackle unemployment. The budget is expected to outline comprehensive policies aimed at economic stabilization and growth, while delivering on key campaign promises.
In response to concerns about Ghana’s currency depreciation, Ofosu stated that the finance minister will outline measures to address financial weaknesses, including rapid currency depreciation.
“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. In concert with development partners and other stakeholders within the economy, appropriate measures will be prescribed for addressing this perennial challenge of currency depreciation,” he said.