Former Deputy Minister of Finance, Dr. Stephen Amoah, has expressed concerns over the repeal of the Electronic Transfer Levy (E-Levy), stating that the move may not be the best decision for Ghana’s economic stability.
His remarks follow President John Dramani Mahama’s recent assent to a series of bills, including the controversial E-Levy repeal.
Speaking on Eyewitness News on Wednesday, April 2, 2025, Dr. Amoah pointed out that while some taxes have been scrapped, others have been increased, which could still have an impact on the economy.
Dr. Amoah argued that Ghana, as a developing economy recovering from a global economic crisis, needs strategic fiscal policies to meet its financial targets.
“They increased some mining taxes and some other taxes they were supposed to end or terminate, but they brought those bills for continuity. So, in other aspects of it, they are still increasing taxes. Once you increase the tax, it doesn’t matter the percentage of increase, it still has its ripple effect on the economy. I am not against any tax increase or tax introduction, depending on how your fiscal space is performing.
“I think as a developing economy that just came from a very severe global economic crisis that we have some targets to meet, which are so high, I think is not the best decision, but of course, this is what we have made Ghanaians believe that this is what is good for us. So, we all have to go by it,” he stated.
