President Nana Addo Dankwa Akufo-Addo has expressed confidence in his administration’s economic recovery programme.
According to him, these strategies when implemented will revive the country’s ailing economy which has been impacted by the novel coronavirus pandemic.
Speaking in an interview with BBC’s Peter Okowche, President Akufo-Addo insisted that the E-Levy tax measure is key to widening the tax net to increase revenue for development.
“In Ghana, the recovery programme we have is very credible and that is what is going to give us the opportunity to come out of this period a stronger economy, and it is that future we are looking at. The digital economy is emerging as the biggest economy in the country and for a long period, it has not had any tax at all, so it is important that it also comes into the net,” he said.
“The world is going through very difficult times. Ghana is no exception, Nigeria is no exception. There is no country in the world that has escaped the ravages of COVID-19…What you need to look at is the elements being put on the ground that looks beyond the Russia Ukraine war,” he added.
“The economy has gone through very difficult times. I can quote statistics of the US and UK economies, but they will not serve a purpose. It is a phenomenon that is going on which has made life difficult,” President Akufo-Addo explained.
Meanwhile, while the rate for the controversial E-Levy has been revised to 1.50 percent, government believes it will raise some GH¢6.9 billion as revenue from the tax measure in 2022.
Already, the Minority in parliament have filed a suit at the Supreme Court challenging the passage of the E-Levy Bill which took place late last month.
