Minister of State in charge of Government Communications, Felix Kwakye Ofosu, has confirmed the scrapping of the electronic transaction levy (e-levy) and Covid levy in the 2025 budget yet to be presented.
The Budget Statement and Fiscal Policy for the year will be delivered by the Finance Minister, Dr. Cassiel Ato Baah Forson, in Parliament tomorrow, Tuesday, March 11, 2025.
As part of its measures to ease the financial burden on Ghanaians, then candidate Mahama promised to scrap these levies in his first 120 days if elected into office.
Among the commitments are the removal of the E-Levy, the COVID levy, a 10% tax on bet winnings, and the emissions levy—all within the administration’s first 90 days in office.
In his address with the media Friday, March 07, 2025, Mr. Kwakye Ofosu highlighted on the government’s plans review taxes on vehicles and equipment purposely meant for agricultural purposes.
The government’s most popular policy, the 24-hour economy, according to the Abura Asebu Kwamankese Member of Parliament, will also be launched soon, adding that the ‘No-Academic-Fee’ policy for all first-year students in public tertiary institutions will also be soon implemented.
Additionally, the first budget will introduce the establishment of a Women’s Development Bank and key job creation programs.
“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.
The Minister also shed light on the government’s quest to implement both medium and long term measures to address the depreciating cedi.
“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.”
Meanwhile, the Finance Minister, Dr. Forson, had earlier reiterated the administration’s commitment to keeping that campaign promise of scraping those nuisance taxes.
We’ll abolish betting tax, e-levy in our first budget – Ato Forson insists
