The CEO of the Chamber of Bulk Oil Distribution (CBOD), Senyo Hosi has reacted to government’s new taxes that have been introduced as part of its post-Covid-19 economic recovery efforts.

According to him, the cause of the country’s economic challenges is mainly to be blamed on corruption.

As such, the introduction of taxes, he says, does not solve the problem but only increases the burden on the ordinary Ghanaian who struggles to make earns meet.

“Corruption is our biggest pillar of resources in this country, everybody knows it. But corruption will only continue to thrive and it gets bigger every year.

"And all these things that are going on (increment of taxes) are only going to end up funding a lot more of this theft,” he told host Winston Amoah and Kojo Yankson on Joy FM’s Super Morning Show Tuesday.

He added, “People are already stealing and you are taxing us to pay more and when the money comes in you do not see it being effectively and efficiently used, it just goes on to facilitate more stealing".

Corruption has been described by many as the biggest impediment to the country’s economic growth.

According to the Ghana Integrity Initiative (GII), the country loses close to US$3 billion to graft annually.

Taking this into account, the CBOD CEO, therefore, suggested a review of Ghana's constitutional structure to factor out the influence of partisan politics.

He stated that “We need to change the structure of our Constitution. We need to reduce the powers of our President because the people we have in our country are generally not good people.

“We should have our key economic institutions structured such that we have a minimal partisan appointment. You have more institutional representation.”