E-Levy will be abolished as part of our first project, – Ato Forson

Dr. Cassiel Ato Forson, Finance Minister-designate, has assured Ghanaians that the controversial E-Levy will be abolished as part of his administration’s first project.

Speaking during his vetting before Parliament’s Appointments Committee, he stated, “My commitment has not changed; it must be abolished and will be abolished immediately.”

Additionally, Dr. Forson addressed the issue of the betting tax, noting that the tax currently generates less than GHC 50 million annually.

He emphasized that scrapping the tax would not adversely affect the economy, further underlining his commitment to policies that support economic growth and stability.

As part of his strategy to stabilize Ghana’s economy, Dr. Forson outlined a bold plan to reduce inflation to 8% plus or minus 2 percent. “It is our responsibility to make sure we reduce inflation to 8% plus or minus 2 in the shortest possible time,” he remarked.

He also stressed the importance of a coordinated fiscal and monetary approach, particularly in stabilizing the Ghanaian cedi.

“BoG alone cannot anchor the Ghana cedi. The Ministry of Finance will have to play a critical role in anchoring the cedi,” Dr. Forson declared.

Dr. Forson’s strategy focuses on a “careful but strong front-loaded fiscal consolidation expenditure base” to reduce inflation, conserve reserves, and protect the cedi.

“Doing this will help the monetary authorities save reserves and protect the cedi,” he explained, signaling a determined effort to restore economic stability.