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Our obstacles are formidable, but do not give up hope - Ofori-Atta

Finance Minister Ken Ofori-Atta has urged Ghanaians to be optimistic and to put their faith in the government's economic measures, which he believes would put the country on the road to recovery.

"While the challenges we confront are overwhelming, we must not lose sight of Ghana's greatest strength: perseverance, entrepreneurial energy, faith, courage, solidarity, and hope." As a result, I urge all of us to contribute to getting our country back on track."

"Ours is a country with real prospects, and despite the challenges, Ghana will rise again, and my faith is based on the fact that a lot has already been accomplished, especially over the course of the Fourth Republic, and our policy, as outlined in this budget to reset the economy, if supported, will ensure that, indeed, we have not wasted the current global crisis, but used it to make our economy stronger and the progress and prosperity of our people even more assured."

Mr Ofori-Atta, among other things, announced a 2.5 percent rise in VAT to directly assist Ghana's road and digitalization program.

The government will also accelerate the implementation of the Unified Property Charge Platform program in 2023; and examine the E-Levy Act, especially lowering the headline rate from 1.5% to 1% of transaction value and eliminating the daily threshold.

The budget is a constitutional process that the Finance Minister will carry out on behalf of the President, Nana Addo Dankwa Akufo-Addo.

"In accordance with Article 179 of the 1992 Constitution and Section 21 of the Public Financial Management Act, 2016 (Act 921), the Minister for Finance will lay before Parliament, on behalf of the President, the 2023 Annual Budget Statement and Economic Policy of Government on Thursday, November 24, 2022," the Finance Ministry said in a statement.

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Ghanaians Ken Ofori-Atta Ofori-Atta


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