The latest KPMG pre-budget survey for 2025 has shown that a majority of respondents are optimistic about the potential impact of the new NDC administration’s policy initiatives in the upcoming budget. The survey, conducted through face-to-face interviews and online instruments from 11 to 21 February 2025, gathered insights from 233 businesses across various sectors in Ghana.
One of the key findings of the survey is that the 24-hour economy initiative is expected to bring significant improvements in the living conditions of many, particularly the unemployed youth. The report indicates that 80% of respondents believe that the government’s policies in the budget will drive economic recovery, with a focus on tax relief and the successful implementation of the 24-hour economy.
A noteworthy aspect of the survey is the call from more than 50% of respondents for the scrapping of the E-levy and Covid-19 levy. Additionally, a substantial portion of respondents (72%) expressed confidence that the 24-hour economy policy will lead to job creation.
The survey also highlighted a strong awareness of the import substitution agenda among respondents, as well as a willingness to support made-in-Ghana goods. Priority concerns were raised for policy initiatives related to the 24-hour economy, job creation, and tax and education reforms.
To address the crowding out of the private sector, the survey suggests employing public-private partnerships (PPPs), improving tax collections, and diversifying funding sources. These recommendations aim to support the government in crafting policies that will foster economic growth and development.
It is evident from the survey results that there is a positive outlook on the potential impact of the government’s budget policies for 2025. The insights gathered from businesses across various sectors provide actionable feedback to the Ministry of Finance, guiding the formulation of future budget cycles.
Overall, the survey underscores the importance of stakeholder engagement and collaboration in shaping effective economic policies. The optimism expressed by respondents reflects a shared belief in the potential of government initiatives to drive economic recovery and create opportunities for growth and development in Ghana.
