Government has indicated that for its post-Covid-19 economy recovery plan to succeed, it needs adequate support from Ghanaians.
Information Minister, Kojo Oppong Nkrumah made the appeal on JoyNews’ PM Express show on Monday while contributing to a discussion on the 2021 Budget Statement.
According to him, the introduction of fresh tax measures by government is creative and necessary to revamp and salvage the economy from the claws of the coronavirus pandemic.
“It is fair for people to focus on the tax measures and ask questions about it. But this budget does not only introduce these revenue measures.
"The revenue measures are necessary because we are at a fiscal deficit of 11 to almost 12%. Debt to GDP is around 70%, in nominal terms 291 billion cedis.
“The option any government will have under these circumstances are to find creative ways of raising revenue and gradually bring back the debt and deficit to a more responsible position.
"There are a multiplicity of reasons for which we are here. Key among them is the Covid-19 challenges that we are in now. If you look at what Covid-19 has done, it has moved us from 5% to 11% and an extra 6% of GDP,” he said.
Government through the 2021 budget statement and economic policy proposed new taxes on petroleum products, 1% Covid-19 Health Levy on VAT Flat Rate Scheme and 1% on the National Health Insurance Levy (NHIL) as part of revenue measures to help the economy recover from the effects of the global pandemic.
However, responding to the proposed new taxes, the Minister explained that it is to help the country recover from the setback and get the economy back to its previous state.
The Ofoase Ayeribi MP said for government to be able to succeed in its plan to recover the economy, it needs adequate buy-in from Ghanaians.
“So we cannot escape the fact that we have to share the burden at this point in time. The real focus for me is that we gather around holding government accountable for using the money for that which it claims it is going to use it for.
"If you are going to increase road tolls, if all of us are going to see an improvement in the road conditions, the road contractors are been paid, they are finishing the road projects on which they are, I am not sure we will worry as much as we worry today,” he added.
Latest Stories
-
Telecel Ghana and Huawei sign new framework contract to provide better network experience
7 mins -
Hotter countries generate more food waste per capita in households
9 mins -
Kwaku Antwi-Boasiako: Eunuchs and Homosexuality
12 mins -
NIC and partners commit to improve insurance coverage through inclusive insurance
21 mins -
Thieves ransack Obuasi Hospital Medical Superintendent’s residence
32 mins -
Kenya: Safari Rally to be Extended to Five Days
38 mins -
Rebel Wilson lost her virginity at 35; hopes to spread a ‘positive message’ by sharing her story
56 mins -
I applied for speedy hearing of injunction application by Dafeamekpor – Attorney General clarifies
1 hour -
Sarkodie, Keche, Yvonne Nelson, other celebs angered by Tema General Hospital power outage
1 hour -
Kenya – Strengthening Healthcare: World Health Organization (WHO) Donates 940 Tablets for Health Emergency Response
1 hour -
BoG appoints Dr. Joseph France as advisor for management of UMB
2 hours -
WAFU B U-17 Cup of Nations to be staged in Accra in May
2 hours -
Mother, who alleges that her baby died due to ‘dumsor’ shares her story
2 hours -
Academic City’s Business and Communication Dean launches new book
2 hours -
FIFA development delegation in Ghana to review GFA projects
2 hours