The 2025 Pre-Budget Survey, conducted by KPMG in partnership with UNDP, has shed light on the priorities of businesses in Ghana as the government prepares its budget.

The survey, which involved 233 companies from diverse sectors, indicates strong support for removing the E-levy and COVID-19 levy.

Over half of the respondents, 50%, have voiced their opposition to these levies, while 72% advocate for the introduction of the 24-Hour Economy Policy as a means to foster economic growth.

According to the survey, there is a prevailing sense of optimism among businesses regarding the government's fiscal policies, with 80% of respondents expressing confidence that the 2025 budget will pave the way for economic recovery.

This optimism largely stems from expectations of tax relief and the successful implementation of the 24-Hour Economy initiative.

While many are calling for the removal of these taxes, businesses have raised concerns about the potential revenue shortfall this would create. As a result, they have proposed alternative solutions to ensure the country’s fiscal stability.

Among these suggestions are expanding the tax base to include the informal sector, reintroducing road tolls, and privatizing state-owned enterprises that are not performing well.

Additionally, businesses have emphasized the importance of creating an environment conducive to the success of the 24-Hour Economy Policy.

Key recommendations for this include enhancing security, providing a stable electricity supply, improving transport infrastructure, and offering tax incentives to businesses.

Felix Kwakye Ofosu, the Minister of State for Government Communications, confirmed that the government will eliminate the E-Levy and the COVID levy in the upcoming budget, which is scheduled for presentation on March 11, 2025. This decision is part of the government's 120-day Social Contract, which includes 26 pledges aimed at revitalizing the economy.

Other notable initiatives in the 2025 budget include the introduction of a 10% tax on betting winnings, an emissions levy, the establishment of a Women’s Development Bank, and policies designed to create jobs. Moreover, the government plans to introduce a 'No-Academic-Fee' policy for first-year students at public universities.