The Electronic Transaction Levy (E-Levy) is only delivering 10% of estimated revenues for the government, this has been disclosed by a leading member of the ruling New Patriotic Party (NPP), Mr. Gabby Otchere Darko.
The government on May 1, 2022, commenced the implementation of the levy.
After two months into the implementation, the government is said to miss its revenue target.
According to Gabby Otchere Darko, the levy is only giving the government 10% of the projected revenue at the moment as the country continues to struggle over high debt and the poor performance of the Ghanaian cedi.
“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,” Mr. Otchere Darko who is Lawyer and Communication strategist said in a post on Twitter on Monday, June 27, 2922.
The leading NPP member further hints in subsequent posts that the government could be forced to return to the IMF to enrol on a programme.
He insists that while that is an option on the table for the government, he is all for it.
“What options are open to government? The question should rather be: what option, if adopted, will re-inject investor confidence in our economy? Even if we find the $3-5 billion required, will that help? E-levy which was to have given us some 600m by now has done less than 60m.
“There’s, understandably, a national aversion to an IMF program, because of the history of conditionalities which attack sacred cows like jobs and social interventions. Akufo-Addo will not sacrifice free SHS and other critical welfare policies to help the poor for any assistance.
“Am I against an IMF program in principle? No,” other posts from Mr. Otchere Darko reads.
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