President Nana Akufo-Addo has said his government is determined to find the means to address what he describes as revenue gaps in the budget.
He said the Covid-19 hit the country hard like any other economy worldwide, thereby leaving a gap in its wake.
Addressing a delegation of traditional leaders from Dzodze in the Volta region on Tuesday, the President said the government will push through the bill, despite the opposition.
He stressed the outbreak of the coronavirus pandemic forced government to undertake unplanned expenses to ensure that the economy does not collapse.
“Revenues during 2020/21 went down considerably because of the slowing down of the economic activities that came from the Covid.
“At the same time, government, in order to keep the country going, had to incur additional expenditures – the free water, the free electricity and provision of free food -were the unavoidable expenses that government had to make.”
“So the gap in fiscal impact would have to be considered. These are the efforts that we are now making that the opposition is being resisted to try and close the gap.
“It is necessary for us to do so because that is the only way some of these matters can be addressed. It is never going to be possible for us [Ghana] to continue to depend on foreign aid and grants to keep our economy going.
“We ourselves must find the money for our development, and that is why it has become necessary to introduce these measures like this famous tax which has caused so much unnecessary lively disputation…nevertheless, we would continue…I am determined to persevere to make sure that we find the means to address some of the issues,” he said.
Government seeks to resort to internal and domestic revenue mobilisation measures, including introducing the controversial Electronic Transactions Levy (E-levy).
The E-levy has been a bone of contention between the Majority and Minority groups in Parliament since its introduction during the presentation of the 2022 budget statement and economic policy.
While Minority MPs are against it, the Majority side has declared its support and intention to ensure its passage, arguing that the country has no other option but to fall on the e-levy to raise the required funds to support the country’s development.