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President Nana Addo Dankwa Akufo-Addo has announced government's decision to cut down the expenditure of ministries, departments and agencies by 20 percent.

This, he said, was a way to contribute towards the recovery of the economy from the shocks of the global pandemic - coronavirus.

The move, President Akufo-Addo furthered will help government save some money.

“We have to make concerted efforts as partners to hasten our recovery from COVID-19 by finding intelligent ways of bringing everyone on board to contribute their quota no matter what,” he said.

“Government on its part is implementing a policy of cutting the budgets of ministries, departments and agencies by 20% this year as its contribution,” he added.

President Nana Addo Dankwa Akufo-Addo made this known while speaking at the 2022 National Labour Conference at Kwahu in the Eastern Region on Monday, February 28, 2022.

He indicated that it's about time Ghanaians are fully involved in the payment of taxes, hence, the introduction of a tax on all electronic transactions, popularly known as the E-Levy.

“We cannot continue to allow less than 10%, specifically 7.8%, that is, 2.4 million people of the population to carry the direct tax burden of 30.8 million people. We must provide an opportunity for every Ghanaian to contribute towards nation building,” President Akufo-Addo stated.

But the announcement of the E-Levy in the 2022 budget has been fraught with several controversies, with many Ghanaians, including the Minority in Parliament kicking against it.

The E-Levy bill was subsequently withdrawn from parliament and currently, the E-Levy has been reviewed downwards to 1.5% from 1.75%.

The bill is yet to be re-laid before parliament after its withdrawal.

Meanwhile, government through the information ministry is organising town hall meetings to discuss the Electronic Transaction Levy (E-Levy).

The exercise will also give government feedback on reactions from citizens on the proposed levy and how best to implement it.

Finance Minister, Ken Ofori-Atta, has also warned of dire consequences for the Ghanaian economy if the E-Levy is not passed.

Ken Ofori-Atta urged Ghanaians to support the implementation of the E-Levy.