2025 Mid-Year Budget to Prioritize Fiscal Discipline and Revenue Reforms

The Government is set to unveil new and decisive measures aimed at strengthening its revenue mobilisation efforts during the presentation of the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24.

Finance Minister Dr. Cassiel Ato Forson will lead the presentation, which is expected to focus on the country’s fiscal performance for the first half of the year and outline strategies to maintain economic stability under the ongoing International Monetary Fund (IMF) support programme.

Key themes of the review will include tax policy adjustments, enhancing efficiency in public spending, and potential revisions to existing levies. The review will also provide a detailed evaluation of revenue trends, government expenditure, debt obligations, and policy implementation.

Revenue generation is expected to be a central focus, particularly as the government plans to launch major infrastructure initiatives, including significant road projects. Meeting revenue targets is seen as critical to funding these developments while maintaining fiscal discipline.

Dr. Forson is likely to provide Parliament with updates on the performance and impact of recent tax changes, such as the introduction of the ₵1 fuel levy, the removal of the E-Levy, and proposed reforms to the VAT system, including the potential elimination of the COVID-19 levy.

Ghana has so far achieved several structural milestones under its IMF-backed programme, and the government is expected to remain committed to the reform agenda to preserve recent economic gains.

The revenue goal for 2025 is to mobilise over ₵200 billion in domestic funds by year-end.

In an interview with Citi Business News, tax analyst Francis Timore Boi observed that although the first half of 2025 has shown a degree of fiscal stability, the real challenge lies in the months ahead.

“The government’s performance so far reflects a commitment to fiscal discipline, but the true test is whether this discipline can be maintained in the second half of the year,” he stated.

Dr. Forson is also expected to deliver progress reports on key government initiatives such as the 24-hour economy and the Big Push infrastructure programme, including strategies for securing the necessary funding to implement them in the coming months.