budget

The Finance Minister Ken Ofori-Attahas said that the Akufo-Addo administration is determined to maintain discipline in order to keep the economy stable. He said the government had turned the corner relative to the economic challenges when it successfully completed the first review of the 3-year 3 billion International Monetary Fund External Credit Facility (IMF-ECF) programme. “We turned the corner when we completed the IMF first review,” he told Parliament while presenting the 2024 budget statement on Wednesday, November 15. He further assured that the government is poised to “maintain stability and keep growing.  and ensure increased growth, currency stability” “We turned the corner when inflation started declining from 54 1 in…

The Finance Minister has said that the government wishes to increase the country's Value Added Tax (VAT) by 2.5 percent in 2023. According to him, the proposal to increase the rate forms part of the government's seven-point agenda to revitalize the economy. The Finance Minister said this while presenting the country's 2023 budget at Parliament on Thursday, November 24, 2022. The standard VAT rate is 12.5%, except for supplies of a wholesaler or retailer of goods, which are taxed at a total flat rate of 3%. He also announced that the government will undertake major structural reforms in the public…