The Minister for Roads and Highways, Kwasi Amoako-Atta, has hinted on the floor of Parliament that the government may securitise proceeds from the yet-to-be approved e-levy to raise revenue to construct more roads.
A Deputy Minister for Finance, John Kumah, earlier denied rumours that the e-levy will be used to raise bonds for the country, but answering questions in Parliament on Friday, the Roads Minister said that option was on the table to rake in more money for infrastructure.
“Government is looking forward to the passage of the e-levy that will bring in greater revenue that will be securitised and then used to raise bonds if possible,” Mr. Amoako-Atta.
“The government in its wisdom has proposed the passage of the e-levy to bring in more revenue to build the road infrastructure of our country for all of us,” he also said.
Responding to the Minister’s comments in parliament, MP for Cape Coast South, Kweku Ricketts Hagan, said the Roads Minister has revealed the government’s true intentions for the controversial levy.
“As they have factored in the E-levy, the government will still be borrowing up until 2025, which is what they have in the budget.”
“They have demonstrated here today that they actually want the e-levy to go and do more borrowing,” he added.
Mr. Hagan stressed that the government would have to answer for its handling of the e-levy
“We want them to understand that they have to be accountable for all the things that they are doing. If not today, it will be tomorrow.”
Ghana’s total public debt stock stands at GHs 332.4 billion, as of May 2021.
That figure brought Ghana’s debt to Gross Domestic Product ratio to 76.6 percent.
