The has anchored on a seven-point agenda aimed at restoring macro-economic stability and accelerating economic transformation as articulated in the Post-COVID-19 Programme for Economic Growth (PC-PEG).
These comprise an agenda to: Aggressively mobilize domestic revenue; Streamline and rationalize expenditures; Boost local productive capacity; Promote and diversify exports; Protect the poor and vulnerable; Expand digital and climate-responsive physical infrastructure; and Implement structural and public sector reforms.
This was announced by the Minister of Finance, Mr.Ken Ofori Atta during presentation of 2023 budget statement at the floor of Parliament.
According to the Minister, to achieve these, there are three (3) critical imperatives: successfully negotiating a strong IMF programme; coordinating an equitable debt operation programme; and attracting significant green investments. This will enable us to generate substantial revenue, create needed fiscal space for the provision of essential public services and facilitate the implementation of the PC-PEG programme to revitalise and transform the economy.
Mr.Ken Ofori Atta said government will undertake the following actions, initiatives, and interventions under the seven-point agenda to aggressively mobilize domestic revenue, we will among others: Increase the VAT rate by 2.5 percent to directly support our roads and digitalization agenda; Fast-track the implementation of the Unified Property Rate Platform programme in 2023; and Review the E-Levy Act and more specifically, reduce the headline rate from 1.5% to one percent (1%) of the transaction value as well as the removal of the daily threshold.
Source: mybrytfmonline /Kofi Atakora
