By Eugene Davis
The Member of Parliament for Kwabre East, Akwasi Gyamfi Onyina-Acheampong, has outlined key expectations ahead of the 2025 Mid-Year Budget Review, scheduled to be presented to Parliament on Thursday, July 24, by Finance Minister Dr. Cassiel Ato Forson.
In an interview with Business24/Investment Times, Mr. Onyina-Acheampong, who serves on Parliament’s Budget Committee, said he expects a detailed update on the performance of key components of the 2025 budget — including actual revenues, expenditures, savings, and areas of over-expenditure.
He emphasized the importance of clarity on how the Finance Minister intends to address the revenue shortfall resulting from the recent appreciation of the Ghana cedi.
“If the budget was based on a projected exchange rate of GHS15 to the dollar, and we expected $1 million in inflows, a revised rate of GHS10.4 means a shortfall of approximately GHS4.6 million,” he explained. “I expect the Finance Minister to outline how government intends to bridge this gap.”
He added that while the cedi’s appreciation reduces revenue from dollar-denominated inflows, it also lowers the cedi value of external debt.
“It’s important to understand how the net effect of this currency movement will be balanced in the government’s fiscal framework.”
Key Expectations: Cocoa Pricing, Statutory Payments, and Covid-19 Levy
Mr. Onyina-Acheampong also called for clarity on cocoa farmgate prices, especially as government prepares to open the 2025/2026 cocoa season next month.
“Farmers deserve to know how much they’ll earn this season. That transparency is crucial,” he said.
Additionally, he demanded an update on the status of statutory payments, including the District Assemblies Common Fund, particularly as the third quarter approaches.
He further questioned the future of the Covid-19 levy and whether it would be scrapped or replaced.
“If the levy is removed, what new measures will be introduced to fill that revenue gap? Will new taxes be introduced?”
Ghanaians to brace for 30–40% Increase in Fees and Charges – Patrick Yaw Boamah
The Chairman of Parliament’s Subsidiary Legislation Committee and Member of Parliament for Okaikwei Central, Patrick Yaw Boamah, has indicated that Ghanaians should anticipate a 30% to 40% increase in statutory fees and charges under the proposed Fees and Charges (Miscellaneous Provisions) Regulations.
According to Mr. Boamah, the new regulations are scheduled to be laid before Parliament on Thursday, 24th July, 2025, for pre-laying review by the Subsidiary Legislation Committee.
He explained that the adjustments are necessary to align public service fees with current economic realities and cost structures.
“This is part of government’s broader effort to enhance revenue mobilisation while ensuring service delivery remains sustainable and efficient,” he said.
Government Committed to Staying Within Budget – Economy Committee Chair
Eric Afful, Chairman of the Economy and Development Committee and MP for Amenfi West, noted that the government is committed to maintaining fiscal discipline, particularly under the IMF-supported programme.
“The cedi is gaining strength, and confidence in the economy is growing,” he said. “The government is not seeking additional funds beyond the GHS293 billion approved under the 2025 Appropriation Bill.”
Mr. Afful highlighted the government’s commitment to fiscal prudence, noting that it is “taxing fairly and spending wisely” — a trend he said is helping rebuild public trust.
Focus on Infrastructure, Capital Expenditure, and Social Programmes
Mr. Afful said particular attention must be paid to the government’s flagship infrastructure programme — the GHS10.3 billion “Big Push” initiative — and the scale of its implementation so far.
“The President hinted that this year’s Big Push will prioritize road construction. We expect the Minister to account for how much has been expended and which critical road projects will be undertaken to support economic growth.”
He also requested a detailed breakdown of the GHS32 billion earmarked for capital expenditure.
“We want to know where that money is going. Additionally, the government promised dedicated funding for Free SHS. How much has been disbursed? What is the outlook?”
Social intervention programmes such as LEAP and others also need to be evaluated against budgetary allocations and macroeconomic indicators, he noted.
Budget Review to Prioritise Revenue, Efficiency, and Policy Outcomes
Thursday’s Mid-Year Budget Review is expected to provide a comprehensive update on government’s fiscal performance during the first half of 2025, as well as outline the roadmap for sustaining economic recovery.
Top priorities include revenue mobilisation, spending efficiency, debt servicing, and policy implementation. There are also expectations of potential revisions to existing levies and a clearer framework for financing planned infrastructure investments.
