Despite 5.4 percent growth last year, an economist, Professor William Baah-Boateng, believes the economy has yet to fully recover from the devastation caused by the COVID-19 pandemic.
According to him, some areas still need to be improved in order to help build the necessary shock absorbers.
He revealed this while speaking on PM Express Business Edition about “labor agitations and the economy.”
Prof. Baah-Boateng argued that, despite strong growth figures, Ghana’s exposure to Russia’s invasion of Ukraine could undermine the country’s gains thus far.
He believes that the recovery will be completed within the next two years.
“The recovery can be described as 60 per cent adding, there is still some more work to be completed”.
Prof.Baah-Boateng also maintained that a lot more needs to be done by the government to help improve the situation.
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Government is hoping to realise some GH¢100.5 billion as revenue by end of 2022.
But the Head of Economics Department at the University of Ghana argued that the Ghana Revenue Authority may also have to review its approach to tax collections to help achieve the said target.
He added that “it’s unfortunate that everything has been about the E-Levy.”
Professor Baah-Boateng expressed worry with the approach adopted by the government with regard to the E-Levy.
He maintained that government should have rather considered tax on the charges by the telecom firms on mobile money transfers, adding “it would have taken the burden a lot off individuals”.
“If MTN for instance is making GH₵1 billion on the charges then 1% should have been placed on that rather.”
Professor Baah- Boateng also expressed worry about the impact of E-levy on the digitalisation agenda of the government. – Myjononline.com
