Proposed economic reforms will mirror IMF programme - Bawumia

The New Patriotic Party's (NPP) flagbearer, Dr. Mahamudu Bawumia has reiterated that his economic strategy is consistent with the International Monetary Fund (IMF) programme that is now directing Ghana's financial stabilization efforts.

His assurance comes as some economic analysts express concern about how certain policies, such as the proposed elimination of the e-levy, introduction of a tax amnesty, and the implementation of a flat tax regime, could affect the country's revenue streams and disrupt IMF-backed stabilization measures.

During a media briefing on Sunday, August 25, Dr. Bawumia addressed these concerns by emphasizing his administration's commitment to economic growth while maintaining fiscal restraint.

He stated that his policy framework will assist the IMF's goals while also addressing the country's economic issues.

“I don’t see any inconsistency at all between what I am proposing and the Fund programme that we are engaged in. If you read my proposals very carefully, I start by saying we are going to bring down government expenditure by 3% of GDP. The proposals in terms of the tax cuts I am proposing will not even come up to 0.5% of GDP.

“So you have more than enough space to fund what I am talking about. I think the issue at the end of the day for the programme is to make sure we maintain fiscal sustainability,” the Vice President said.

Source: Lead News Online