PIED Calls for Effective Implementation of Progressive 2025 Budget Policies
The Policy Initiative for Economic Development (PIED) commends the 2025 budget as progressive, highlighting the importance of effective implementation to reduce corruption. Key measures include tax cuts, educational support, and disaster aid, with a call for local procurement of sanitary products. Caution is advised against uncritical continuations of past programs, while collaboration is urged for successful execution.
The Policy Initiative for Economic Development (PIED) has characterized the government’s 2025 budget policies as progressive, emphasizing the necessity for effective implementation. Dr. Daniel Ameteye Amin-Prempeh, Chief Economist at PIED, remarked that while the policies are commendable, attention must be directed towards eliminating corruption and ensuring that implementation is robust.
Among the proposed economic policies are the elimination of the Electronic Transfer Levy, the COVID-19 Levy, and a 10% tax on betting winnings. Additionally, the budget outlines the cancellation of the Emission Levy, VAT on motor vehicle insurance, and a 1.5% withholding tax on small-scale gold miners’ winnings.
On the social front, the budget allocates GH₵3.5 billion to the Free Senior High School programme and GH₵499.8 million for the No-Academic-Fee policy benefitting first-year students at public tertiary institutions. There is also support for disaster victims, with GH₵242.5 million for Akosombo dam spillage victims and GH₵200 million for those affected by tidal waves in Agavedzi and Ketu South communities.
Furthermore, the budget earmarks GH₵292.4 million for free sanitary pads for female students in primary and secondary schools. Dr. Amin-Prempeh advocates for local procurement of these pads to bolster domestic businesses and stressed the importance of ensuring that assistance reaches the intended beneficiaries without interference.
Dr. Amin-Prempeh warned against the uncritical continuation of previous administration initiatives, such as the Planting for Food and Jobs programme. Minister of Finance, Dr. Cassiel Ato Baah Forson, affirmed the government’s commitment to a 24-hour economy policy aimed at fostering economic growth and job creation. He highlighted that the 2025 budget will establish a foundation for a more resilient and equitable society, calling upon all sectors to support its implementation.
In summary, the 2025 budget proposed by the government is being recognized as progressive by PIED, with a strong emphasis on effective implementation to tackle corruption. The budget introduces significant tax reforms and substantial social aid solutions, aiming to bolster education and support disaster victims. However, caution is advised regarding the continuation of prior initiatives, establishing the need for a measured approach. Collaboration from various sectors will be crucial to ensure successful implementation and the desired outcomes of the budget.
Original Source: gna.org.gh
