President Akufo-Addo has announced plans by the government to cut down by 20% the budget expenditure of all Ministries, Departments, and Agencies for the year 2022.
According to the President, the move is the government’s way of reducing costs and cutting down expenditure due to the general economic difficulties.
Speaking at the 2022 National Labour Conference at Kwahu in the Eastern Region, President Akufo-Addo said “we have to make concerted efforts as partners to hasten our recovery from COVID-19 by finding intelligent ways of bringing everyone on board to contribute their quota no matter what.”
“Government on its part is implementing a policy of cutting the budgets of Ministries, Departments, and Agencies by 20% this year as its contribution.”
Nana Akufo-Addo also bemoaned that the percentage of Ghanaians paying direct taxes is woefully inadequate and efforts must be made to bridge the gap through the E-levy.
“We cannot continue to allow less than 10%, specifically 7.8%, that is, 2.4 million people of the population to carry the direct tax burden of 30.8 million people. We must provide an opportunity for every Ghanaian to contribute towards nation-building.”
He said the E-levy will provide the opportunity for every Ghanaian to contribute towards nation-building, stressing that Ghanaians must accept the implications of Ghana beyond aid.
