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The Ghana Union of Traders’ Associations (GUTA) has expressed optimism in the upcoming 2025 Budget Statement of the new Government. GUTA says they expect the budget to be business-friendly. In a statement issued by its President Dr Joseph Obeng, GUTA said that the assurance given by the Government to reduce the cost of doing business in the country by streamlining the tax system and effectively reducing taxes, duties and levies is a step in the right direction. “With this approach, we fervently expect that all nuisance taxes will be scrapped to considerably prune down the number of numerous taxes that…

An Economist, Professor Godfred Bokpin, has projected a rise in the country’s Value Added Tax (VAT) to as much as 18% or slightly lower in the 2025 budget, as the government considers scrapping certain taxes. The expected removal of the E-Levy, COVID-19 levy, and betting tax has raised concerns about how the government intends to bridge the resulting revenue gap. Speaking in an interview with Citi Business News, Professor Bokpin suggested that the government may extend VAT to cover financial services as part of efforts to offset the expected shortfall. He believes the government will also likely restructure…

Adnan Adams Mohammed President John Dramani Mahama has officially opened the maiden National Economic Dialogue 2025 taking place in Accra. The president, who chaired the opening ceremony and also the keynote speaker, in his address noted that, Ghana is at critical crossroads with its economic growth and needed bold solutions and sacrifices to restore the economy on growth trajectory. “… Building economy that works for everyone should be our focus”, he intimated. “NED create a powerful platform where government actors, the private sector, the academia and Civil society organisations meet yo dialogue on national reforms” President Mahama further urged the…

“Rising sea levels have exacerbated vulnerabilities in coastal areas, leading to wetland flooding, habitat loss, and community displacement. Consequently, coastal protection has emerged as a national priority.”

Key among the initiatives is the continued enforcement of measures to curb illegal, unreported, and unregulated (IUU) fishing, which threatens marine biodiversity and the livelihoods of our hardworking fisherfolk.

Latest to add its voice is the Institute for Fiscal Studies (IFS) cautioning the government to set realistic budgetary targets to ensure fiscal credibility.

“If asked how President Mahama’s numerous SONA initiatives will be funded, l will suggest: enhanced revenue mobilization, cutting wasteful expenditure, checking pillage of state funds, and tapping more natural resource receipts,” Dr John Kwakye wrote on his X page.

“It is also note-worthy that the appraisal of the Afina discovery has revealed the potential for substantial gas resources which would enhance Ghana’s energy security and sustainability”, John Abdulai Jinapor said in the statement.

He tasked them to go beyond mere technical considerations and act in full recognition that every statistic, every movement on a chart, and every shift in an index is more than just data, but, it is also indeed the pulse of an economy, a measure of resilience or distress.

This comes at a time Ghana should be rejoicing over the strong rebound in its cocoa production for the ongoing 2024/25 crop season.