GHANA's finance minister, Ken ofori-atta on Thursday 24th November read the national annual budget for 2023. Less attention was given to this budget because of the citizens high concentration the on Ghana Black Stars world cup group stage match with the Portuguese on the same day, which ended as a defeat to the nation.
Many sees the budgets to be okay but others to object that the budget is going to give a tougher days ahead for Ghanaians because of some key highlighted point which are not helpful. Below are some key points from the 2023 national budget
1. The government is going to increase value-added tax by 2.5% that is it will move from 12.5% to 15% therefore there is a higher likelihood that prices of goods will go up so far as VAT has increased. FROM THE FINANCE MINISTER THIS IS TO BOOST UP REVENUE GENERATION TO HELP FIGHT THE HARD ECONOMY OF THE COUNTRY.
2. The government hasReduce the electronic transaction Levy from 1.5% to 1% this means that the government has also removed the hundred Ghana cedis threshold which attracts the e-levy therefore the government is going to charge an e-levy on any money transaction that citizens will do.
3. Mister as part of plans to reduce government expenditure the government has introduced some new measures which include the following.
A. There is going to be a ban on the use of v8 and v6 vehicles unless it is for cross-country travel.
B. There is going to be no hiring of civil ant public servants, no printing of diaries and calendars in the coming 2023.
C. There's going to be no critical government projects going to be done in the coming year 2023.
The minority in the Parliament has counted his budget and have laid down a claim that the budget is going to introduce a proof use hardship in the country even more than the current state.
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