The Government is expected to announce bold and fresh measures to consolidate its revenue mobilisation efforts when it presents the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24.
The presentation by Finance Minister Dr. Cassiel Ato Forson will be heavy on fiscal performance for the first half of the year and outline strategies to sustain economic recovery under the ongoing IMF-backed programme.
With a focus on taxes, spending efficiency and possible tweaks to existing levies, this year’s review is expected to provide a critical assessment of government’s economic management – covering revenue performance, expenditure, debt servicing and policy implementation.
Revenue mobilisation will be a top priority, especially as government prepares to roll out key infrastructure projects, including major roads.
Meeting revenue targets is seen as essential to financing these initiatives without compromising fiscal discipline.
The Finance Minister is also expected to update Parliament on the performance and impact of recent tax measures such as the implementation of the ₵1 fuel levy, the scrapping of the E-Levy, and ongoing plans to simplify the VAT system, including the possible removal of the COVID-19 levy.
So far, Ghana has met several structural benchmarks under its IMF-supported programme, and government is expected to stay the course to avoid reversing recent gains.
The 2025 target is to mobilise over ₵200 billion in domestic revenue by year-end.
In an interview with Citi Business News, Tax Analyst Francis Timore Boi noted that while the first half of the year has been relatively stable, the coming months will be a true test of government’s fiscal discipline.
“The government’s track record for the first half has shown strong commitment to fiscal discipline but the real test lies ahead so the Mid year budget will show whether the government can sustain this discipline,” he said.
Dr. Ato Forson is also expected to provide updates on key flagship programmes, including the 24-hour economy initiative and the Big Push infrastructure programme, along with funding strategies to drive them forward in the second half of the year.
