Ken Ofori-Atta is hopeful government will surmount the existing challenges with the economy
Finance Minister, Ken Ofori-Atta has just presented the Akufo-Addo-led NPP's first budget statement in parliament. The Finance Minister among others spoke of government's intention to abolish a number of 'nuisance' taxes while also maintaining fiscal discipline.
The Minister also mentioned the commencement of a number of projects this year including the roll-out of the one-district, 0ne-factory project. Also, secondary education is expected to be free, beginning September.The much talked about Free SHS programme is to be funded by the 'ABFA and other sources', the minister hinted.
According to the new budget, excise duty on petroleum products will soon be scrapped. In addition to that, the government also intends to reduce the special petroleum tax rate from 17.5% to 15%.
Additionally, other taxes will also either be abolished completely or reduced to create a conducive business environment.
The Minority in parliament has meanwhile described the maiden financial statement of the Akufo-Addo-led government as a “419 budget”.
Read the full budget statement presented by Finance Minister Ken Ofori-Atta.
