Deloitte, the professional services firm, has expressed that it is awaiting specific details on the Mahama administration’s proposed 24-hour economy policy, which was announced during the presentation of the 2025 Budget. The policy is aimed at boosting economic productivity by encouraging businesses to operate round-the-clock, which is expected to create jobs and support sustainable economic growth.
Finance Minister Dr. Cassiel Ato Forson emphasized that the policy would soon be formally presented to Parliament for approval. While Deloitte supports the government’s goal of boosting productivity, it remains cautious, stating it needs more details on how the policy will be implemented, particularly regarding its impact on local growth, government procurement, and infrastructure development programs like the ‘Big Push.’
Deloitte also expressed support for the government’s efforts to cut public expenditure, as these measures could help restore investor confidence and bring about macroeconomic stability. However, the firm noted that the anticipated fiscal tightening might slow down economic growth in the short term, as some government programs may be limited.
The consulting firm stressed the importance of reversing high budget deficits and highlighted the government’s efforts to reduce taxes, which could positively impact the business community. Deloitte is particularly looking forward to reforms in the VAT regime and adjustments to import duties, which could help businesses thrive and create more jobs.
In conclusion, Deloitte calls for more clarity on the 24-hour economy policy and other key initiatives to ensure that the objectives of economic stability and growth are met effectively.
