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Positive Change!
Ghana, after more than four months since the new NPP Government is
in office, has indeed seen Change. Positive or Fasten-your-belt-once-more-tighter,
that is the question.
Click here
for the NPP websites! |
Fuel increase by 60% followed by increase of all commodities
and services (click
to read more). This month will see the increase of Electricity and
Water tariffs between 90% and 200%, (click
to read more) which will be followed by another increase of all commodities
and services. An additional Import Tax of 0.5% named Export Development
Levy has been added to the already high import taxation. The introduced
20% special tax by the former NDC government is still in force, together
with the 0.5% ECOWAS levy.
Ghana is now also HIPC! We have joined the club
of "Heavily Indebted Poor Countries" and will benefit from debt cancellations,
but followed with strict economical measures dictated, as usual, by the
IMF and World bank.
To read
more about being HIPC, click here!
But all this measures were unavoidable to save the
Ghanaian economy. Positive Change has been seen in the increased interest
and activities by the local and foreign community. Quite stable foreign
exchange rates to the local Cedi are indicators of a possible reduction
in inflation.
And what is about the Ghanaian worker and his
salary? The basic minimum wages were recently pegged at 5,500 Cedis per
day (US$ 0.77), less than US$ 25.00 a month! Still far below any reasonable
income to make a decent living. A Positive Change was the reduction in
Income Taxes.
Click
here to read
more on
the Ghanaian economy and current affairs
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