Parliament will today, Tuesday, 29 November 2022, begin the debate on the 2023 budget statement following Finance Minister, Ken Ofori-Atta’s presentation last Thursday.
The budget, among other things, focused on the government’s strategies to restore and stabilise the macro economy, build resilience, and promote inclusive growth and value creation.
It also featured prominent matters including providing an update on Ghana’s engagement with the IMF for a $3 billion support programme, climate change strategies, and the YouStart initiative under the Ghana CARES Programme.
It also captured the year-to-year macro-fiscal performance of the economy, fiscal measures and debt management strategies to ensure debt and fiscal sustainability and promote growth.
Mr Ofori-Atta also in his presentation announced a freeze on public sector employment as well as a ban on the importation of new vehicles and the use of V8 vehicles by government officials.
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The Minister also announced a 2.5% VAT increment and a reduction in the rate on the electronic transaction levy (E-levy) from 1.5% to 1% and the removal of the 100 cedis threshold.