The 2023 Budget Statement and Economic Policy for the fiscal year ending December 31, 2023, have been approved by Parliament.
On Tuesday, December 6, 2022, the approval was granted through a voice vote administered by the speaker, Alban Kingsford Sumana Bagbin.
Prior to approval, leaders on both sides of the House were given approximately 45 minutes to complete their debates on the same day.
Minority Leader Haruna Iddrisu opposed the 2.5 percent increase in VAT and the reduction of the E-Levy from 1.5% to 1% of every transaction.
However, Majority Leader Osei Kye-Mensah-Bonso refuted many of the Minority’s claims and urged cool heads to prevail in order to support the finance minister and the Government in fully implementing policy measures outlined in the budget to get the economy back on track.