In a post shared on his official Facebook page on Tuesday, 16th August 2022, he wrote;
It would be the height of insensitivity on my part to suggest that all is well when the reality is that things have taken a downward spiral with respect to the economy.
We have said or admitted on several that times are hard and for that matter, Ghanaians in general are in in hardships. We have also made the point, quite strongly, that we are not an island in this whole post-COVID-19 and Russia/Ukraine conflict effects.
P.K Sarpong added that our big brother, Nigeria, contrary to what some would want us to believe, is also suffocating with debts and has had to introduce stringent measures to redeem the economy from collapsing. Read what Bloomberg has reported about Nigeria. They have introduced 5% taxation on mobile services including data, text messages and calls.
PK Sarpong quoted report from Bloomberg:
"Cash-Strapped Nigeria Implements 5% Tax on Mobile Services, Tax in Africa’s biggest mobile market follows Ghana’s e-levy
Nigeria, Africa’s biggest wireless market, is moving ahead with a proposed 5% tax on voice calls, mobile data and text messages to tackle a mounting fiscal crisis.
“Although Nigeria is celebrated as the largest economy in Africa, translating this wealth into revenues remains a challenge,” Ahmed said. The statement did not say when collections of the levy, which is in addition to a 7.5% value-added tax on calls and data, will begin.
A similar tax introduced by West African neighbor Ghana was blamed for a slowdown in mobile-money revenue by MTN Ghana in its first half results. Ghana, also facing a fiscal crisis, introduced a 1.5% e-levy in May to boost government revenue and reduce its burgeoning budget deficit."
PK Sarpong therefore argued that it is safer concluding that no country is free from the shackles of the COVID-19 pandemic and the continuous conflict between Russia and Ukraine. It is difficult but let’s bear with it. Things will change.
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