A survey shows businesses’ acceptance of 2025 Budget
The Country Managing Partner of Deloitte Ghana, Daniel Kwadwo Owusu, has noted that the 2025 Budget and Economic Policy set the tone for business growth in an economy recovering from challenges.
He advocated strongly for expenditure rationalisation to support fiscal consolidation.
He said: “The Ghanaian economy has experienced significant challenges in recent years. I cite a few – high inflation levels where we peaked at 54% in 2022 and have not come to the expected levels. We’re in a situation where we need to tighten our belt and I can see the government doing that in recent times with the very important government machinery through the reduction of ministers and all that.
“We have to rationalise expenditure. We have to do more and generally, it is positive which we hope will also incentivise businesses to do more so we can see the changes we expect in the system,” as quoted by myjoyonline.com.
He made these comments at the Deloitte Economic Dialogue in Accra on March 17, 2025.
Speaking at the same event, the Chief Executive of the Association of Ghana Industries, Seth Twum Akwaboah, asked the government to relook the extension of the sunset clause on some tax handles.
“We often see some of these taxes changed into different names with sunset clauses but we don’t normally see the government taking it out of the system.
“In actual fact, the sun never sets and businesses are made to continue paying. This is a concern to us and I think the government must take a second look at that,” he added.
SSD/AE
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