A leading member of the New Patriotic Party (NPP) Gabby Asare Otchere-Darko has revealed that the controversial electronic levy (e-levy) is not delivering the amount of money the government expected.
According to him, e-levy after months of stalemate is delivering only 10% of the amount of money the government expected it to deliver.
He underscores the need for the government to take some measures that will boost investor confidence in the country as part of measures in saving the ailing economy.
Gabby Asare Otchere-Darko made this known in a series of tweets Monday.
“After 5 months of stalemate and bashing, the e-levy, after implementation, is delivering only 10% of estimated revenues; our revenues remain very low as compared to the rest of the world; debt levels dangerously high, cedi, like most currencies, struggling against the US dollar,” he said.
He continued “Ghana has no food crisis, enough food from our farms, yet food prices have shot up 3-4 times more in our cities, far & over above rising cost of transportation. To make matters worse, global food insecurity is worsening as inflation, from challenges with supply chain, worsens”.
He said although the economy is doing well now, confidence in Ghana’s ability to service debts is lowering and that is a worry.
“Our economy is growing faster than most countries around the world. But, that alone can’t save us as confidence in our ability to service our debts is lowering. We can’t continue to use all the little revenues raised to pay our debts. Very soon we may have to borrow to pay wages!”