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29.07.2021 Headlines

2021 budget review: I've not come to ask for more money — says Finance Minister as no new taxes introduced

By Eric Nana Yaw Kwafo
Finance Minister Ken Ofori-Atta
LISTEN JUL 29, 2021
Finance Minister Ken Ofori-Atta

The mid-year budget review statement delivered by Finance Minister Ken Ofori-Atta has seen no new taxes introduced to burden Ghanaians.

Earlier this week, new data released by the Bank of Ghana revealed that Ghana's total public debt stock has increased.

The debt stock which ended the first quarter of 2021 at GH¢304.6 billion, increased by almost GH¢ 30 billion in April and May.

This has seen Ghana's total public debt as of the end of May 2021 rising to GH¢332.4.

As a result, it was envisaged that Finance Minister Ken Ofori-Atta may introduce new taxes when he deliverers the mid-year budget review in Parliament today.

However, delivering the mid-year budget review statement on the floor of parliament this afternoon, the Finance Minister shared that he has not come to ask for more taxes.

Rather, he said his main purpose was to update the house on the performance of the economy.

“I have not come here today to ask for more money, I have not come to ask for more taxes, I have come to update the house on the performance of the economy for the first half of the year,” Ken Ofori-Attah told Parliament.

The Finance Minister in addressing the increase in the country’s debt stock said it is as a result of the issuance of the Eurobond, the impact of the Covid-19, and the financial cleanup.

Despite the spike in the public sector debt stock, Ken Ofori-Atta has assured Ghanaians that the government is on course to reviving the economy from the blow of the Covid-19 pandemic.

Eric Nana Yaw Kwafo
Eric Nana Yaw Kwafo

Journalist

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