As Finance Minister Dr. Cassiel Ato Forson prepares to present the 2025 Mid-Year Budget Review in Parliament today, several lawmakers, stakeholders, and union leaders are raising critical concerns, calling for bold action on key economic issues — including the scrapping of the COVID-19 levy, stabilising the Ghana cedi, and addressing forex leakages to the black market.
Old Tafo Member of Parliament, Ekow Vincent Assafuah, has urged the Finance Minister to immediately scrap the COVID-19 Health Recovery Levy, describing it as outdated and unjustifiable under the current economic climate.
“Covid-19 levy should be scrapped. I don’t see why something they promised to remove is still in existence,” Assafuah said in an interview with TV3 ahead of the budget presentation.
The levy, introduced in 2021 as part of emergency measures to mitigate the economic impact of the pandemic, has faced growing criticism in recent months. Many argue that with the pandemic no longer posing an emergency threat, the levy has outlived its relevance.
Meanwhile, the General Secretary of the Ghana Agricultural Workers Union, Edward Kareweh, has called on the government to outline decisive measures to curb persistent leakages of foreign exchange into the black market — a phenomenon he says continues to threaten macroeconomic stability.
“The Cedi is the blood of the economy; therefore, every measure should be taken to address the challenges it faces,” Kareweh said, also speaking to TV3.
Kareweh noted that while the cedi has recently shown signs of appreciation — trading at 10.4948 to the dollar (buying) and 10.5053 (selling), according to the Bank of Ghana rate on Thursday — sustained stability depends on plugging the loopholes that drain forex from formal channels.
In a separate interview, Sagnarigu MP Issah Atta assured Ghanaians that the mid-year budget review will not introduce any new taxes, instead focusing on consolidating economic gains and improving revenue collection efficiency.
“It is not just a mere review… No new tax will be introduced today — that I can say for a fact,” Issah Atta stated on TV3’s New Day programme. “Increasing your tax-to-GDP need not necessarily mean increasing your collection.”
He added that the review is expected to highlight the government’s economic performance so far, provide updates on job creation, and give clarity on the country’s current debt position.
Ahead of his presentation, Finance Minister Dr. Cassiel Ato Forson reaffirmed his commitment to restoring economic stability, reducing inflation, and creating jobs. In a statement on his official X (formerly Twitter) page, Dr. Forson reflected on his promise to deliver meaningful change since assuming office.
“At my vetting, I made a firm commitment to the Ghanaian people: to stabilise the exchange rate, reduce inflation, and create jobs. These were not mere words — they were promises backed by action,” he said.
“I return to you, the people, to reflect on the journey so far — and to ask: are we making the needed impact?”
Dr. Forson added that concrete steps taken under the 2025 Budget have contributed to the recent gains in exchange rate and inflation stability, promising more targeted interventions in today’s budget review.