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The Finance Minister, Ken Ofori Atta, has embarked on a press briefing to provide government's strategy to revive Ghana's economy . In his address , he mentioned vatious key items covering two major issues such as increasing revenues and cutting down expenditures.
In addressing the hike in the crude oil prices , he mentioned that Fuel prices will be reduced effective April 1,2022 where petrol will be reduced by 1.6 percent and diesel will be reduced by 1.4 percent . He added that the reductions in the price per litre ranges from 2pesewas to 9pesewas depending on the type of crude oil.
He also mentioned that the cutting down of expenditure was not enough so there will be introduction of property rate,E-VAT , E-commerce,E-gaming.
The Finance Minister also said that in increasing revenues, Parliament will be impressed upon to introduce E-levy bill, other fees ,taxes and charges bill.
He explained that government will pursue major interventions such as 1D1F, enhance local production ,increased exports and patronage of local goods . He emphasised that government will not eliminate major interventions.
The Finance Minister also said that government will introduce additional 2billion US Dollars to revamp the economy . He mentioned that the Bank of Ghana measures were to contain the rate of inflation . He commended the economic growth of the country where he mentioned that from as low as 0.4percent growth in 2020 and 5.2percent in 2021, the economy grew thereafter by about 6percent.
He exclaimed that Ghana has been affected by the Russia- Ukraine issue , covid 19 and other global factors .
He also prayed for peace for the walls of parliament.
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