The Minister of State for Government Communications, Felix Kwakye Ofosu, has confirmed that the government will abolish the E-Levy and the COVID levy as part of the upcoming 2025 budget, which is set to be presented on Tuesday, March 11, 2025.
These tax cuts are key components of the government’s 120-day Social Contract, a policy framework outlining 26 major pledges aimed at revitalizing the economy and alleviating financial burdens on citizens.
Among the commitments are the removal of the E-Levy, COVID levy, the 10% tax on bet winnings, and the emissions levy—all within the administration’s first 90 days in office.
Additional Tax and Economic Policy Reforms
Speaking to journalists in Accra on Friday, March 7, Ofosu announced plans to review taxes and levies on vehicles and equipment imported for industrial and agricultural purposes.
He also emphasized the government’s intention to:
- Launch the 24-Hour Economy Policy
- Implement a ‘No-Academic-Fee’ policy for all first-year students in public tertiary institutions
- Establish a Women’s Development Bank
- Introduce key job creation programs
Addressing Currency Depreciation
On concerns about Ghana’s currency depreciation, Ofosu assured that the finance minister would outline short- and long-term strategies to stabilize the economy.
“In concert with development partners and other stakeholders, appropriate measures will be prescribed to tackle this persistent challenge of currency depreciation,” he stated.
The 2025 budget is expected to introduce comprehensive policies aimed at economic stabilization and growth while delivering on the government’s campaign promises.
