Ranking Member on the Finance committee Cassiel Ato Forson has described the state of the economy as one that is seriously sick and at the Intensive Care Unit.
He made the comments when contributing to the debate on the 2022 Budget Statement and Economic Policy of Government for the year and economy December 2022.
The debate was started with the Finance, Environment, Gender, Foreign Affairs, Youth and Sports, and Employment committees today, Tuesday, November 23, 2021.
It started with the chairman of each committee and was followed by their ranking members who were given 20 minutes each to make their points and one member from each side was given 15 minutes.
Mr. Forson, who is the Member of Parliament for Ajumako Ennyan Essiam debating on the financial sector of the budget, stated that there is high rate of unemployment and the rising of inflation which is affecting the economy at all angles.
He further described the high rate of unemployment as a national security threat.
He also touched on the increase in fuel prices and the introduction of the new levy on electronic transactions.
He said the Electronic Transactions -Levy which was introduced in the budget will do no good to Ghanaians but harm.
In his view, most traders and ordinary Ghanaians transact businesses via mobile money service and save money in their mobile money wallet hence they would be affected.
He revealed that taxing mobile money is an attempt to tax savings instead of encouraging savings therefore the 1.75% proposed levy will bring inefficiency to the economy and is not acceptable.