Minority Leader Dr. Cassiel Ato Forson has expressed disappointment in the 2024 Mid-Year Budget Review, stating that it reflects the governing New Patriotic Party’s (NPP) impending transition to the opposition.
Dr. Ato Forson’s comments came after Finance Minister Dr. Amin Adam presented the review on Tuesday, July 23, highlighting the government’s efforts to reverse negative economic trends and rein in expenditures.
The minister reported a provisional total debt of GH¢742 billion (US$50.9 billion) as of June, representing 70.6% of GDP, and assured that the government is living within its budget.
However, Dr Ato Forson criticised the review for failing to abolish certain taxes, such as the COVID levy, E-levy, and emission levy, which he believes have contributed to Ghana’s high tax regime and driven businesses and citizens out of the country.
He described the review as a “missed opportunity” lacking new policies and ideas, and referenced the majority caucus jubilation song “Abamu awie” saying they are now “on their way to opposition.”
“At the very least Ghanaians expected that this mid-year review would have removed or abolished a number of taxes that has made Ghana a high tax regime to the extent that businesses are moving out of the country and the ordinary Ghanian is actually leaving the shores of this country. For example example COVID levy, E-levy, ‘Borla’ tax, tax on domestic electricity, emission levy.”
“Mr Speaker this is a missed opportunity. Mr Speaker instead the minister did not announce one single new policy. The minister did not introduce new ideas. Mr Speaker unfortunately Ghana is on autopilot, and our economy is on autopilot…All what I want to tell them, they are bereft of new ideas and I’m happy that they sang’ abamu awie’, you are on your way to opposition.”
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