Finance Minister Ken Ofori-Atta will today present the mid-year budget review to Parliament.
The presentation of the budget review is in accordance with Article 179 of the 1992 Constitution and the Public Financial Management Act 921.
Mr Ofori Atta will tell Parliament new measures being adopted by government to meet its review targets. He may also announce review of some of the targets and policies earlier announced in the 2021 budget.
Government through the 2021 budget statement and economic policy introduced new taxes on petroleum products, 1% COVID-19 Health Levy on VAT Flat Rate Scheme and 1% on the National Health Insurance Levy (NHIL) as part of revenue measures to help the economy recover from the effects of the global pandemic.
In June, deputy Finance Minister Abena Osei Asare said Ghanaians should prepared to pay more taxes as the government seeks to embark on an aggressive domestic revenue mobilization drive to mitigate the negative impact of COVID-19 on the economy.
According to the deputy Minister-designate, the government seeks to introduce several tax policies between 2021 to 2023 aimed at raising the needed resources to bridge the deficit created by the impact of COVID-19.
Osei-Asare said the government is aggressively working to increase the country’s GDP from 13% to 20% by 2023 as being done by countries within the sub-region.