2025 Budget Will Bring Strategic Transformation to Economy – MP for Pru East
The Member of Parliament for Pru East, Hon. Emmanuel Kwaku Boam, has expressed confidence that the 2025 budget has the potential to bring strategic transformation to Ghana’s economy.
Reacting to the budget statement presented by the Minister of Finance, Dr. Cassel Ato Forson, on Tuesday, March 11, 2025, Hon. Boam described the budget as a source of renewed hope for Ghanaians, particularly the youth who have felt disillusioned by the country’s economic challenges.
“The budget as read has reignited hope among Ghanaians. Many young people who had lost faith in the country and were seeking opportunities abroad now see a reason to stay. If the standard of living improves and the cost of living is reduced, they believe it will be worth staying and contributing to national development,” he stated.
According to Hon. Boam, businesses across the country have welcomed the budget, particularly the decision to scrap the Electronic Levy (E-Levy), which had placed a significant financial burden on entrepreneurs.
He cited an example of a businessman who was deducted GHC 60,000 in withholding tax on mobile money transactions, emphasizing that removing such levies would positively impact businesses and stimulate economic growth.
Focus on Infrastructure and Economic Growth
Hon. Boam highlighted that the government’s ‘Big Push’ agenda is centered on infrastructure development, aimed at opening up the country for economic growth. He pointed to the achievements of former President John Dramani Mahama in infrastructure between 2012 and 2016, stating that similar investments would attract more investors and further expand the digital space.
“The digital infrastructure created under the previous administration laid the foundation for the country’s technological advancements. The new budget continues this vision by prioritizing infrastructure development across all sectors, including roads, IT, and education,” he said.
Commitment to Free SHS and Social Interventions
Addressing concerns about the Free Senior High School (SHS) policy, Hon. Boam reassured constituents that the program has not been canceled but rather strengthened with increased funding.
“We have allocated GHC 3.5 billion to ensure that students are well-fed and catered for. The government has also uncapped the GETFund, meaning that more resources will be available for school infrastructure,” he revealed.
He further noted that investments in social programs such as the Livelihood Empowerment against Poverty (LEAP) and the National Health Insurance Scheme (NHIS) would enhance the quality of life for Ghanaians, particularly at the grassroots level.
Position on One District, One Factory (1D1F)
On claims that the government intends to cancel the One District, One Factory (1D1F) initiative, Hon. Boam clarified that the policy remains intact but requires restructuring to be more effective.
“We have not cancelled 1D1F. However, we recognize that many of these factories lack the necessary support to operate efficiently. Our focus is to ensure proper resource allocation so that these projects genuinely benefit the business community,” he said.
Accountability and Transparency in Governance
Hon. Boam emphasized that the new administration is committed to curbing financial mismanagement and ensuring accountability in the use of public funds.
“There have been significant financial losses due to mismanagement over the past eight years. Our priority is to stop the bleeding, ensure every cedi is accounted for, and direct resources towards meaningful development,” he asserted.
He further accused the previous administration of engaging in corrupt practices and assured Ghanaians that the new government would uphold transparency and fiscal discipline.
“The leadership is committed to ensuring value for money. Every single penny will be accounted for, and that is the only way we can achieve sustainable national development,” he concluded.
The 2025 budget has been widely discussed, with various stakeholders analysing its potential impact on Ghana’s economy. As implementation begins, the government will be closely monitored to ensure that its promises translate into tangible benefits for citizens.
Source: Felix Nyaaba//expressnewsghana.com
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