As opposition lawmakers initially block the budget, the finance ministry and central bank face new economic headwinds
Faced by a powerful opposition party, Finance Minister Ken Ofori-Atta’s 2022 budget statement, presented on 17 November to Parliament, was always unlikely to have an easy passage. And so it has proved. The budget’s plans for a 1.75% levy on electronic transactions, originally scheduled to become effective on 1 January and projected to raise close to 7 billion cedi that could fund key initiatives including road projects, was the main reason given by the opposition National Democratic Congress (NDC) for refusing to approve the budget on 26 November.
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