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Parliament approves Akufo-Addo’s 2021 budget after secret voting

Parliament has approved the 2021 budget after a secret vote.

After the voting, 137 MPs voted in favour of approving the budget as against 134 MPs voting against the budget.

The Minority earlier rejected the outcome of the voice vote after calling for the rejection of the budget due to its tax component.

The Speaker granted the application of the Minority for a headcount amid controversy on the Floor.

Some of the proposed taxes in the budget were widely criticised by observers and various stakeholders.

The Fitch Ratings in its assessment also said the slow pace of the consolidation path outlined by the budget statement and by the accompanying medium-term fiscal framework leaves Ghana exposed to a heavy debt-service burden and risks of fiscal slippage.

The government, on the other hand, has described the taxes as necessary after a revenue shortfall of GHS13.4 billion which was 3.5 percent of GDP.

Expenditure on the other hand had seen an increase of GHS11.8 billion translating into a deficit increase of GHS25.3 billion.

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