The Executive Secretary of the Importers and Exporters Association, Sampson Asaki Awingobit, has expressed high expectations for the 2025 Budget, calling for the suspension of taxes on goods to provide relief to both buyers and sellers in Ghana.
According to him, scrapping these taxes will be a significant relief for the people of Ghana, as it will ease the financial burden on businesses and consumers alike.
Speaking ahead of the budget presentation by Finance Minister Cassiel Ato Forson, on Tuesday March 11, Mr. Awingobit outlined his expectations, emphasizing the need for the budget to prioritize tax cuts and economic relief measures.
“We expect to see a total tax relief for the business community, which I represent. We expect to see that there is a populace tax cut as the government promised us during the campaign era. The COVID Levy, E-Levy, Betting Tax, and the rationalization of taxes, especially the fees that the president promised us during the campaign era because that is the surest way that will make us reduce the prices of goods, then everyone can go to the market and smile. The game changer is today. The budget will give birth to hope,” he stated.
He further questioned what measures the government would implement to stabilize inflation, lower interest rates, and support the private sector.
“… What will the government do to bring stability in inflation? What will the government do to bring interest rates down? What will the government do to support the private sector? The agric business is now under the Ministry of Trade and Industry what incentives will they give to maximize production, increase production, and ensure that we can employ more youth? The headache of government is job creation.
“President Mahama talked about Ghana spending 400 million dollars on importing frozen chicken, so what will this budget do to address this system so our poultry growers can produce more poultry?”
Mr Awingobit also highlighted the importance of reducing excessive importation to support the local economy.
“The money used for the excessive importation half of the percentage can stay in the country, and that alone can bring us stability in our cedi, support depreciation, and create jobs. So that is what I am looking forward to seeing,” he concluded.
