Ghana's 2021 policy statement was presented to Parliament a few weeks ago with the introduction of tax hikes. It was approved by the house after long hours of debate and counter arguments. Parliament this week has been debating on the budget for the ministries, departments and agencies and will pass an appropriation bill to enable government's business run.
Reacting to the state of the economy and the introduction of new taxes on Pan Africa TV, the editor-in-chief of the Insight newspaper indicated that, the country is completely broke and there is a deep hole which keeps getting deeper and bigger.
"A country that uses 91% of it's total revenue to service debts and 70% of it's national income to pay salaries and emoluments is completely broke. I had the misfortune of watching the finance minister designate at the appointments committee and I nearly wept. There is nothing innovative and creative about him to sustain this broken economy. What hurts me even more is the NPP's sudden uturn on borrowing and taxation for development".
He disclosed the need for the Akuffo-Addo led government to sit up and stop running the country into an abyss. "The prices of goods and services have skyrocketed by a 100% and the government is still increasing taxes".
Further, he stated the debts level and the hardships experienced by citizens of this country has been attributed to the covid-19 pandemic which is not true. This government have been reckless in borrowing and we are taxed more in this difficult times.
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