Bismark Osei, an economist and lecturer at CK Tedam University of Technology and Applied Sciences (CKT-UTAS), has acknowledged that while the 2025 budget presented by the Finance Minister has several positive aspects, further improvements are needed in certain areas.
Speaking on A1 Radio, he highlighted the government’s decision not to impose any new taxes, which he deemed favorable for the public. He specifically pointed out the mining tax, noting that its impact would be limited and would not affect the majority of the population. He also praised the allocation of GH¢1.5 billion to the agriculture sector, describing it as a significant and positive move. Additionally, he welcomed the introduction of the Ghana Food Program, which he believes will play a crucial role in boosting productivity in the agricultural industry.
“We were expecting that no new tax was going to be imposed that would bring any extra burden on Ghanaians, and yes, there was no new tax.”
“The government should re-evaluate how they intend to collect property tax. In the area of agriculture, I think allocating GH¢1.5 billion is very good for us.”
However, Mr. Osei stressed the importance of seeing tangible results from these allocations, emphasizing that past initiatives led by politicians had often been mismanaged. He urged a more focused approach, advocating for the appointment of independent, results-oriented individuals to oversee these programs.
“Appoint independent individuals who are result-oriented—industrial players—to handle these policies.”
Another point of discussion was the Gold Board initiative. While acknowledging its potential, he suggested that its role should be redefined to ensure the government benefits from a gold refinery, which could further enhance Ghana’s mining sector.
Mr. Osei also expressed concerns about the funding allocated to the Women’s Development Bank, arguing that it might not yield the desired outcomes. He proposed rethinking the structure of the Development Bank of Ghana to better support such initiatives and achieve the intended results.
“To me, we should have redefined the Development Bank of Ghana,” he said.
Source: A1Radioonline.com|101.1Mhz|Gifty Eyram Kudiabor|Bolgatanga
