{"id":2325,"date":"2025-03-12T11:53:04","date_gmt":"2025-03-12T11:53:04","guid":{"rendered":"https:\/\/cmtv.ca\/?p=2325"},"modified":"2025-05-13T05:43:09","modified_gmt":"2025-05-13T05:43:09","slug":"president-john-dramani-mahamas-government-shocks-ghanaians-with-the-2025-budget-presentation","status":"publish","type":"post","link":"https:\/\/cmtv.ca\/index.php\/2025\/03\/12\/president-john-dramani-mahamas-government-shocks-ghanaians-with-the-2025-budget-presentation\/","title":{"rendered":"President John Dramani Mahama\u2019s Government Shocks Ghanaians with the 2025 Budget Presentation"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2325\" class=\"elementor elementor-2325\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ca25a76 e-flex e-con-boxed e-con e-parent\" data-id=\"ca25a76\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1c36b98 elementor-widget elementor-widget-text-editor\" data-id=\"1c36b98\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2 data-start=\"103\" data-end=\"143\"><strong data-start=\"106\" data-end=\"141\">Key Tax Cuts and Policy Changes<\/strong><\/h2><p data-start=\"144\" data-end=\"414\">In a <strong data-start=\"149\" data-end=\"178\">surprising turn of events<\/strong>, Minister of Finance <strong data-start=\"200\" data-end=\"214\">Ato Forson<\/strong> announced <strong data-start=\"225\" data-end=\"251\">major tax eliminations<\/strong> under President <strong data-start=\"268\" data-end=\"308\">John Dramani Mahama\u2019s administration<\/strong> during the presentation of Ghana\u2019s <strong data-start=\"344\" data-end=\"359\">2025 Budget<\/strong>. The following tax measures have been <strong data-start=\"398\" data-end=\"411\">abolished<\/strong>:<\/p><ul data-start=\"415\" data-end=\"531\"><li data-start=\"415\" data-end=\"436\"><strong data-start=\"417\" data-end=\"434\">1% E-Levy Tax<\/strong><\/li><li data-start=\"437\" data-end=\"459\"><strong data-start=\"439\" data-end=\"457\">Emissions Levy<\/strong><\/li><li data-start=\"460\" data-end=\"507\"><strong data-start=\"462\" data-end=\"505\">VAT on Motor Vehicle Insurance Policies<\/strong><\/li><li data-start=\"508\" data-end=\"531\"><strong data-start=\"510\" data-end=\"529\">10% Betting Tax<\/strong><\/li><\/ul><p data-start=\"533\" data-end=\"656\">These bold economic reforms are aimed at <strong data-start=\"574\" data-end=\"604\">providing financial relief<\/strong> to Ghanaians and stimulating <strong data-start=\"634\" data-end=\"653\">economic growth<\/strong>.<\/p><h2 data-start=\"658\" data-end=\"697\"><strong data-start=\"661\" data-end=\"695\">Support for Tidal Wave Victims<\/strong><\/h2><p data-start=\"698\" data-end=\"994\">The government has allocated <strong data-start=\"727\" data-end=\"760\">200 million Ghana Cedis (GHC)<\/strong> to assist <strong data-start=\"771\" data-end=\"797\">victims of tidal waves<\/strong> that <strong data-start=\"803\" data-end=\"845\">destroyed homes and displaced citizens<\/strong> in affected areas. This financial support is expected to aid in <strong data-start=\"910\" data-end=\"957\">rebuilding communities and providing relief<\/strong> to those impacted by the disaster.<\/p><h2 data-start=\"996\" data-end=\"1057\"><strong data-start=\"999\" data-end=\"1055\">24-Hour Economy Policy to Be Presented in Parliament<\/strong><\/h2><p data-start=\"1058\" data-end=\"1383\">In line with its <strong data-start=\"1075\" data-end=\"1109\">economic transformation agenda<\/strong>, the Mahama administration will soon present the <strong data-start=\"1159\" data-end=\"1185\">24-hour economy policy<\/strong> to Parliament. This initiative is designed to <strong data-start=\"1232\" data-end=\"1304\">boost employment, increase productivity, and enhance economic growth<\/strong> by promoting <strong data-start=\"1318\" data-end=\"1357\">round-the-clock business operations<\/strong> across various sectors.<\/p><h2 data-start=\"1385\" data-end=\"1454\"><strong data-start=\"1388\" data-end=\"1452\">Increased Budget for Free Senior High School (SHS) Education<\/strong><\/h2><p data-start=\"1455\" data-end=\"1743\">The government has allocated <strong data-start=\"1484\" data-end=\"1511\">3.5 billion Ghana Cedis<\/strong> for the <strong data-start=\"1520\" data-end=\"1532\">Free SHS<\/strong> program this year. Additionally, the <strong data-start=\"1570\" data-end=\"1599\">feeding grant per student<\/strong> has been <strong data-start=\"1609\" data-end=\"1645\">increased from 1.20 GHC to 2 GHC<\/strong>, ensuring <strong data-start=\"1656\" data-end=\"1709\">better nutrition and improved learning conditions<\/strong> for students in public schools.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-af8d1ef e-flex e-con-boxed e-con e-parent\" data-id=\"af8d1ef\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-50bd964 elementor-widget elementor-widget-image\" data-id=\"50bd964\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"618\" height=\"348\" src=\"https:\/\/cmtv.ca\/wp-content\/uploads\/2025\/03\/Ato-Forson-fresh_in_da_building-2.jpeg\" class=\"attachment-large size-large wp-image-2329\" alt=\"\" srcset=\"https:\/\/cmtv.ca\/wp-content\/uploads\/2025\/03\/Ato-Forson-fresh_in_da_building-2.jpeg 850w, https:\/\/cmtv.ca\/wp-content\/uploads\/2025\/03\/Ato-Forson-fresh_in_da_building-2-300x169.jpeg 300w, https:\/\/cmtv.ca\/wp-content\/uploads\/2025\/03\/Ato-Forson-fresh_in_da_building-2-768x433.jpeg 768w\" sizes=\"(max-width: 618px) 100vw, 618px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9ca7302 e-flex e-con-boxed e-con e-parent\" data-id=\"9ca7302\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-771e126 elementor-widget elementor-widget-text-editor\" data-id=\"771e126\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2 data-start=\"1745\" data-end=\"1796\"><strong data-start=\"1748\" data-end=\"1794\">Bank of Ghana Seeks 53 Billion GHC Bailout<\/strong><\/h2><p data-start=\"1797\" data-end=\"2116\">The <strong data-start=\"1801\" data-end=\"1818\">Bank of Ghana<\/strong> is currently seeking a <strong data-start=\"1842\" data-end=\"1876\">53 billion Ghana Cedis bailout<\/strong> to address its <strong data-start=\"1892\" data-end=\"1920\">negative equity position<\/strong>, which was <strong data-start=\"1932\" data-end=\"1999\">caused by the previous New Patriotic Party (NPP) administration<\/strong>. This bailout is aimed at <strong data-start=\"2026\" data-end=\"2060\">stabilizing the banking sector<\/strong> and restoring confidence in Ghana\u2019s financial system.<\/p><h2 data-start=\"2118\" data-end=\"2192\"><strong data-start=\"2121\" data-end=\"2190\">Non-Academic Fees Covered for First-Year Public Tertiary Students<\/strong><\/h2><p data-start=\"2193\" data-end=\"2478\">The government has allocated <strong data-start=\"2222\" data-end=\"2251\">499.8 million Ghana Cedis<\/strong> to <strong data-start=\"2255\" data-end=\"2282\">cover non-academic fees<\/strong> for <strong data-start=\"2287\" data-end=\"2346\">all first-year students in public tertiary institutions<\/strong>. This policy aims to <strong data-start=\"2368\" data-end=\"2430\">reduce the financial burden on students and their families<\/strong>, making higher education <strong data-start=\"2456\" data-end=\"2475\">more accessible<\/strong>.<\/p><h2 data-start=\"2480\" data-end=\"2544\"><strong data-start=\"2483\" data-end=\"2542\">Abolition of 1.5% Withholding Tax on Small-Scale Miners<\/strong><\/h2><p data-start=\"2545\" data-end=\"2823\">In a move to <strong data-start=\"2558\" data-end=\"2599\">support the small-scale mining sector<\/strong>, Minister Ato Forson announced the <strong data-start=\"2635\" data-end=\"2696\">abolition of the 1.5% withholding tax on unprocessed gold<\/strong>. This decision is expected to <strong data-start=\"2727\" data-end=\"2820\">boost local gold production, reduce smuggling, and encourage responsible mining practices<\/strong>.<\/p><h3 data-start=\"2825\" data-end=\"2881\"><strong data-start=\"2829\" data-end=\"2879\">A Budget Focused on Economic Relief and Growth<\/strong><\/h3><p data-start=\"2882\" data-end=\"3206\" data-is-last-node=\"\" data-is-only-node=\"\">The <strong data-start=\"2886\" data-end=\"2901\">2025 Budget<\/strong> under <strong data-start=\"2908\" data-end=\"2945\">President Mahama&#8217;s administration<\/strong> demonstrates a <strong data-start=\"2961\" data-end=\"2981\">clear commitment<\/strong> to <strong data-start=\"2985\" data-end=\"3060\">tax relief, education, economic transformation, and financial stability<\/strong>. With these <strong data-start=\"3073\" data-end=\"3089\">bold reforms<\/strong>, the government aims to <strong data-start=\"3114\" data-end=\"3205\">ease economic hardship, support key sectors, and promote long-term national development<\/strong>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<div style='clear:both'><\/div><div  class='the_champ_counter_container the_champ_horizontal_counter'><div class='the_champ_counter_title' style=\"font-weight:bold\"><\/div><ul class=\"the_champ_sharing_ul\"><li style=\"padding:7.35px 0 !important\" class=\"the_champ_twitter_tweet\" data-super-socializer-href=\"https:\/\/cmtv.ca\/index.php\/2025\/03\/12\/president-john-dramani-mahamas-government-shocks-ghanaians-with-the-2025-budget-presentation\/\"><a href=\"https:\/\/twitter.com\/share\" class=\"twitter-share-button\" data-url=\"https:\/\/cmtv.ca\/index.php\/2025\/03\/12\/president-john-dramani-mahamas-government-shocks-ghanaians-with-the-2025-budget-presentation\/\" data-counturl=\"https:\/\/cmtv.ca\/index.php\/2025\/03\/12\/president-john-dramani-mahamas-government-shocks-ghanaians-with-the-2025-budget-presentation\/\" data-text=\"President+John+Dramani+Mahama%E2%80%99s+Government+Shocks+Ghanaians+with+the+2025+Budget+Presentation\" data-via=\"\" data-lang=\"\" >Tweet<\/a><script>!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=\/^http:\/.test(d.location)?\"http\":\"https\";if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+\":\/\/platform.twitter.com\/widgets.js\";fjs.parentNode.insertBefore(js,fjs);}}(document, \"script\", \"twitter-wjs\");<\/script><\/li><li style=\"padding:7.35px 0 !important;margin-top:-1px!important\" class=\"the_champ_pinterest_pin\"><a data-pin-lang=\"\" href=\"\/\/www.pinterest.com\/pin\/create\/button\/?url=https:\/\/cmtv.ca\/index.php\/2025\/03\/12\/president-john-dramani-mahamas-government-shocks-ghanaians-with-the-2025-budget-presentation\/\" data-pin-do=\"buttonPin\" data-pin-config=\"beside\"><img src=\"\/\/assets.pinterest.com\/images\/pidgets\/pinit_fg_en_rect_gray_20.png\" \/><\/a><script type=\"text\/javascript\" async src=\"\/\/assets.pinterest.com\/js\/pinit.js\"><\/script><\/li><li style=\"padding:7.35px 0!important;margin-top:-2px!important\" class=\"the_champ_linkedin_share\"><script src=\"\/\/platform.linkedin.com\/in.js\" type=\"text\/javascript\">lang: <\/script><script type=\"IN\/Share\" data-url=\"https:\/\/cmtv.ca\/index.php\/2025\/03\/12\/president-john-dramani-mahamas-government-shocks-ghanaians-with-the-2025-budget-presentation\/\" data-counter=\"right\"><\/script><\/li><li style=\"padding:7.35px 0 !important\" class=\"the_champ_facebook_share\"><div class=\"fb-share-button\" data-href=\"https:\/\/cmtv.ca\/index.php\/2025\/03\/12\/president-john-dramani-mahamas-government-shocks-ghanaians-with-the-2025-budget-presentation\/\" data-layout=\"button_count\"><\/div><\/li><\/ul><div style=\"clear:both\"><\/div><\/div><div style='clear:both'><\/div><p>Key Tax Cuts and Policy Changes In a surprising turn of events, Minister of Finance Ato Forson announced major tax eliminations under President John Dramani Mahama\u2019s administration during the presentation of Ghana\u2019s 2025 Budget. The following tax measures have been abolished: 1% E-Levy Tax Emissions Levy VAT on Motor Vehicle Insurance Policies 10% Betting Tax &hellip;<\/p>\n","protected":false},"author":1,"featured_media":2327,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,38,10],"tags":[],"class_list":["post-2325","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-diaspora","category-news","category-world"],"jetpack_featured_media_url":"https:\/\/cmtv.ca\/wp-content\/uploads\/2025\/03\/Ato-Forson-fresh_in_da_building.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/cmtv.ca\/index.php\/wp-json\/wp\/v2\/posts\/2325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cmtv.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cmtv.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cmtv.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cmtv.ca\/index.php\/wp-json\/wp\/v2\/comments?post=2325"}],"version-history":[{"count":10,"href":"https:\/\/cmtv.ca\/index.php\/wp-json\/wp\/v2\/posts\/2325\/revisions"}],"predecessor-version":[{"id":3976,"href":"https:\/\/cmtv.ca\/index.php\/wp-json\/wp\/v2\/posts\/2325\/revisions\/3976"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cmtv.ca\/index.php\/wp-json\/wp\/v2\/media\/2327"}],"wp:attachment":[{"href":"https:\/\/cmtv.ca\/index.php\/wp-json\/wp\/v2\/media?parent=2325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cmtv.ca\/index.php\/wp-json\/wp\/v2\/categories?post=2325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cmtv.ca\/index.php\/wp-json\/wp\/v2\/tags?post=2325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}