President John Dramani Mahama says his administration has not only delivered on its 120-day social contract with Ghanaians but has significantly exceeded expectations, particularly in the area of economic and tax reforms.
Delivering a special national broadcast on Wednesday night, May 7, to account for his government's performance over the period, President Mahama said the government had enacted a raft of critical tax and fiscal management bills aimed at resetting Ghana's economy for inclusive growth. "We've significantly exceeded our 120-day promises, particularly on overall tax reforms, by enacting other critical bills such as the Value Added Tax Amendment Bill, the Income Tax Amendment Bill, the removal of VAT on motor vehicles, the Public Financial Management Bill, the Growth and Sustainability Levy Act, the Earmarked Funds Capping and Re-alignment Bill, the GoldBod Bill, the Energy Sector Levy Bill, and the Petroleum Revenue Amendment Bill," Mahama declared.
According to the President, these legislative measures were not only key to restoring confidence in the economy but also central to ensuring fiscal discipline, broadening the tax net, and easing the cost burden on individuals and businesses.
The address forms part of Mahama's commitment to deliver measurable outcomes under his social contract, a move he campaigned on in the lead up to the 2024 elections.
