Mid-Year Budget Review: Government to Announce Bold Revenue Measures on July 24
Finance Minister Dr. Cassiel Ato Forson is set to present Ghana’s 2025 Mid-Year Budget Review to Parliament on Thursday, July 24, with a focus on consolidating revenue mobilisation and sustaining gains under the IMF-supported economic programme.
The review will evaluate fiscal performance for the first half of 2025, highlight ongoing reforms, and propose new strategies for tax revenue enhancement, expenditure efficiency, and policy implementation.
Key Expectations:
- New or adjusted revenue measures to boost collections without derailing growth.
- Review of existing levies, including:
- ₵1 fuel levy
- Scrapping of the E-Levy
- Simplification of the VAT system
- Potential removal of the COVID-19 levy
- Performance update on flagship initiatives like the 24-Hour Economy and Big Push Infrastructure Programme
- Measures to strengthen fiscal discipline, reduce borrowing, and ensure debt sustainability
Revenue Mobilisation a Central Pillar
The government aims to mobilise over ₵200 billion in domestic revenue by the end of 2025 to fund critical infrastructure projects, particularly in the roads sector, without compromising fiscal prudence.
With rising public demand for improved services and infrastructure, the Mid-Year Review is seen as a test of the government’s ability to balance spending with fiscal restraint.
IMF Programme Progress
Ghana has so far met several structural benchmarks under the International Monetary Fund programme. Staying the course is essential to avoid reversing recent macroeconomic gains.
Expert Commentary
Speaking to Citi Business News, Tax Analyst Francis Timore Boi said:
“The government’s track record for the first half has shown strong commitment to fiscal discipline, but the real test lies ahead. The Mid-Year Budget will show whether the government can sustain this discipline.”
The Finance Minister is also expected to outline financing strategies for key government programmes and re-affirm the administration’s commitment to economic recovery and job creation.
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