Deputy Information Minister Kojo Oppong Nkrumah has described Ghana’s economic growth as outstanding.
He said after a year of fiscal discipline and innovative economic management, the results have been excellent.
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Speaking on Adom TV’s Morning Show Badwam Wednesday, the Deputy Information Minister, cited increased revenue generation, a slowdown in the rate of debt accumulation and rise in GDP figures as the evidence that the economy is doing better today than it did under the previous government.
“Ghana’s economy has grown from 3.6 per cent in 2016, the lowest in 22 years, to 7.9 per cent in 2017, and this year, it’s expected to grow at 8.3 per cent, which would make it the fastest growing economy in the world” he said.
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Mr Oppong Nkrumah denied claims that the taxes the government collects have not done enough to ensure the fundamentals of the economy remain robust.
His comments come on the heels of speculation that Finance Minister Ken Ofori-Atta will announce a 4% increase in VAT during his Mid-Year Review address to Parliament Thursday.
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A source has since confirmed to Joy News that the VAT will not rise.
But Nkrumah would not confirm nor deny whether the VAT hike would take effect, but proposed other alternatives to ramp up revenue in the country.
“All I can say is that anything the Finance Minister says will be in our interest because we know what is good for the people of Ghana,” he said.