‘2025 Budget must signal govt’s dedication to private sector’
THE Chief Executive Officer of Dalex Finance, Joe Jackson, has expressed optimism that the 2025 budget will reflect President John Mahama’s commitment to partnering with the private sector to reset Ghana’s economy.
“When the 2025 budget comes out, we will see whether the tax adjustments are indeed growth-friendly and capable of creating an environment conducive for businesses to generate jobs.
“The budget will also reveal how the government plans to leverage the 24-Hour Economy Programme to assist the private sector in job creation,” Jackson stated.
Mahama’s Call to the Private Sector
In his inaugural address at the Black Star Square, President John Mahama appealed to the private sector to join efforts in revitalizing the economy.
He reiterated his pledge to review and rationalize the tax regime to address long-standing concerns raised by businesses.
“Ghana is now open for business,” the President declared, underscoring his administration’s commitment to creating an enabling environment for private sector growth.
Business Community Expectations
Joe Jackson emphasized that the 2025 budget must signal the government’s dedication to supporting the private sector, especially within the constraints of an International Monetary Fund (IMF) programme and a challenging economic environment.
“This budget should demonstrate prioritization of the private sector to deliver the much-needed jobs. It must also send a clear message to investors that the government is serious about attracting foreign direct investment (FDI) to drive economic development,” Jackson added.
Concerns from Real Estate Stakeholders
On the same platform, the Executive Secretary of the Ghana Real Estate Development Association (GREDA), Samuel Amegayibor, identified Ghana’s tax structure as a significant challenge for the real estate sector.
“President Mahama’s promise to review the tax system is a welcome development for us. Real estate stakeholders are hopeful that the new administration will stabilize the cedi to ease the pressures on our industry,” Amegayibor remarked.
Addressing the cedi’s perennial depreciation, Amegayibor called for swift measures to stabilize the currency, particularly during the first quarter of the year when it typically comes under pressure.
“The cedi’s stability will bring much-needed relief to stakeholders in the built environment and foster investor confidence,” he added.
Looking Ahead
The business community eagerly anticipates the unveiling of the 2025 budget, viewing it as a litmus test for the government’s commitment to creating a business-friendly environment and revitalizing the economy. President Mahama’s vision of fostering private sector-led growth, coupled with tax reforms and currency stabilization, is seen as critical to achieving sustainable economic development.
