"Ghana\u2019s underlying political stability to endure for next 5 years \u2013 EIU"

" \n Ghana\u2019s underlying political stability to endure for next 5 years \u2013 EIU \n \n\n \n The Economist Intelligence Unit (EIU) has made positive projection on the country\u2019s political landscape in its latest Five Year Forecast. \n \n\n \n According to EIU, despite the \u201chighly acrimonious party-political landscape\u201d of the country, it expects the sector to be stable through the period. \n \n\n \n \u201cThe fierce rivalry between the two major parties\u2014the ruling New Patriotic Party (NPP) and the opposition National Democratic Congress (NDC)\u2014will remain the core feature of the political scene,\u201d the London-based organization noted. \n \n\n \n Highlighting the razor-thin NPP-led Parliament, EIU further observed that reaching a consensus on certain policies, particularly, taxes and reforms will be very tumultuous \n \n\n \n Using the controversial Electronic Transfer Levy (E-levy) as an example, the Economic Observers said. \n \n\n \n \u201cIn November 2021 the minority government rejected the proposed 2022 budget bill over the introduction of an electronic-transaction levy (e-levy); this was later reversed, and the 2022 budget bill was passed by an NPP-led majority, albeit without the e-levy clause,\u201d it recounted. \n \n\n \n Read: Agric Minister consistently putting out false information about agric sector \u2013 Sulemana Braimah \n \n\n \n E-levy \n \n\n \n E-levy was first mentioned by the Finance Minister, Ken Ofori-Atta, when he was presenting the 2022 budget in November 2021. \n \n\n \n He explained that the \u201cinnovative\u201d tax will broaden the government\u2019s revenue generation basket. \n \n\n \n However, the tax policy generated a lot of controversy in Parliaments and amongst the citizenry. \n \n\n \n As the Majority Caucus said it will propel Ghana\u2019s development, economists and Minority in Parliament said the Levy will only intensify the hardships of average Ghanaians. \n \n\n \n But after nearly three months of back and forth, including fisticuffs among Parliamentarians, the E-Levy Bill was passed by the Majority-sided Parliament on Tuesday, March 29. \n \n\n \n The Levy was passed at a reduced rate of 1.5% from the initial 1.75% amid a Minority walkout. \n "

"Ghana\u2019s underlying political stability to endure for next 5 years \u2013 EIU"

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