Deputy Finance Minister, John Kumah, has disclosed that there will be no new taxes in the mid-year budget review to be delivered in Parliament by the Minister of Finance on Thursday, July 29.
His revelation follows reports that Ken Ofori-Atta will introduce new taxes to shore up revenue and mitigate ballooning debt figures.
“I can tell you that there will no introduction of taxes in the mid-year budget review,†Mr Kumah told TV3 on Monday, July 26.
Last year, Ghana’s economy experienced a record-low growth rate as the pandemic hit hard.
Nevertheless, the government has high hopes for its future outlook as it strives to increase gross revenue and fully recover from its dire financial situation.
On Thursday, Ken Ofori will provide a brief summary of national expenses, including President Nana Akufo-Addo’s expenditures such as foreign trips, and lay out plans to improve the economy.
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