The 2023 National Budget was Presented in Parliament today by the Finace Minister Hon. Ken Ofori Atta. The budget is presented two months before the year of implementation. i.e The 2023 budget is presented in November 2022.
The budget contains various additions and subtractions the government has made to improve the economic situation of the country. The introduction and annulation of any tax in the next year will be announced in the year's budget that will be presented before parliament for approval. Parliament must approve the budget before it can be implemented.
Here are some key things you should note in the 2023 National budget;
- E-LEVY DOWN TO 1% NO GH₵ 100 THRESHOLD
The electronic levy which was introduced in 2022 of which we were to pay 1.5% of any any amount above GH₵ 100 for every mobile money transaction has been reduced by 0.5%. The E-Levy was initially introduced at 1.75% and was vehemently opposed by the minority caucus and the majority of the citizenry. Also you will be charged E-Levy on any amount you transact via mobile money.
- PUBLIC SECTOR EMPLOYMENTS FROZEN
Employments have been frozen in the public sector or will be frozen in the year 2023. You may not be able to find a job in the public sector in the year 20203, government is on a tight budget.
- OFFICIAL CARS TO BEAR GREEN 'GV' PLATES
All government vehicles will have to ue the GV number plates from January 2023.
- BAN ON THE USE OF V8s/V6s UNLESS CROSS COUNTRY TRAVELS
Government has placed a ban on the use of V8s/V6s by government officials. They can only be used when travelling outside Accra or for long journies. This will help reduce the amount of money government spends to fuel and service the vehicles.
- REDUCTION OF FUEL ALLOCATION TO POLITICAL APPOINTEES.
The government has decided that from the year 2023 the fuel allocation for political appointees such as Heads of MDAs , MMDAs and SOEs shall be reduced by 50%. If they were given GH₵ 2000 for fuel in 2022, they will receive only GH₵ 1000 in 2023.
- REDUCTION IN THE SIZE OF ALL CONVOYS
Effective 2023 government shall reduce the size of all convoys. From the President to any other appointee that uses a convoy but it's not certain by what percentage the convoy would be reduced.
- NON-CRITICAL PROJECTS CAN WAIT
Government will consider putting on hold various projects that it considers non-critical for a year. Any project the government embarks on in 2023 should be considered a critical one as it is suspending non-critical projects for one year.
Here are a few things in the budget that can keep you updated and informed of some of the things to expect in the coming year. It is visible that a few of the policies that have been introduced by the government are policies that the Former President H.E John Dramani Mahama mentioned in his recent address to the nation.
