The government’s excessive borrowing has led to the country’s economic crisis – John Mahama

John Dramani Mahama, a former president of Ghana, has attacked the present administration for raising taxes on Ghanaians and breaking its pledge to put the emphasis on output rather than revenue.

Three new revenue levies, which have generated some controversy, were recently approved for implementation by President Nana Addo Dankwa Akufo-Addo.

On March 31, the parliament approved the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill 2022, the Ghana Revenue Authority Bill 2022, and the Income Tax Amendment Bill 2022.

Mahama voiced concern that the taxes have put a burden on the population, with grocery prices soaring, while on a tour of the Greater Accra region.

He chastised the government for borrowing too much money, which he said was the root of the nation’s economic problems.

He asserted that if the government had kept its borrowing under control, it might have avoided asking external creditors for debt forgiveness.

If the government had not participated in excessive borrowing, the nation wouldn’t be in this economic situation.

Ex-President Mahama stated, “We are currently requesting debt relief from external creditors”.

Source: Ghanatodayonline.com