The 2025 budget, presented to Parliament on Tuesday, March 11, by Finance Minister Dr. Cassiel Ato Forson, has been met with sharp criticism from Minority Leader Alexander Afenyo-Markin, who described it as uninspiring and devoid of hope.
Despite notable policy changes, including the abolishment of certain taxes such as the betting tax and the Electronic transaction Levy (E-Levy), the Minority Leader argued that the budget fails to provide a clear path to economic recovery and prosperity.
Despite these tax relief measures, Afenyo-Markin remained unimpressed with the overall economic direction of the budget.
He expressed deep disappointment, arguing that the government has failed to present a bold and visionary financial plan that would address the core economic challenges facing Ghana.
“There is no inspiration from this budget. There is no hope in this budget,” the Minority Leader declared.”
According to Afenyo-Markin, while the removal of some taxes may offer temporary relief, the budget lacks long-term strategies to ensure sustainable economic growth, job creation, and debt reduction.
He accused the Finance Minister of failing to outline a concrete roadmap for stabilising the economy and restoring investor confidence.
The betting tax, which was imposed on gaming and sports betting activities, had been a source of frustration for many in the gaming community, including youth who saw betting as a source of income.
The tax structure required betting companies to withhold a percentage of winnings as tax, significantly reducing bettors’ earnings.
By removing the betting tax, the government aims to reduce the burden on consumers while ensuring that the betting industry remains competitive and attractive for investment.
However, economic analysts have raised concerns about the potential loss of revenue from this sector and how the government plans to offset the shortfall.
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