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We may be tired of hearing but COVID, Russia-Ukraine war caused the mess - Bawumia

8th February 2024 5:00:00 AM

1 min read
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Vice President Dr. Mahamudu Bawumia has emphasized the importance of recognizing the significant repercussions of the two major global events, namely the COVID-19 pandemic and the Russia-Ukraine war, on Ghana's economy. Despite the weariness among Ghanaians of hearing about these issues, Dr. Bawumia stressed the necessity of acknowledging their dire impact.

"Between 2020 and 2022, we experienced severe challenges, triggered by the pandemic which brought the worldand our country to a thundering halt.

We may be tired of hearing it but there is no avoiding the fact that the COVID-19 pandemic, and the Russia-Ukraine war, resulted in the greatest economic depression in the world since the 1930s, with most countries recording negative GDP growth," Dr Bawumia indicated in his address to the nation as 2024 flagbearer of the NPP.

He also noted that his government will implement a policy where the government grants forgiveness or relief from tax penalties to businesses.This will allow businesses to settle their outstanding tax liabilities without facing additional penalties or legal consequences.“Government will provide a tax amnesty (i.e.

, a complete exemption from the payment of taxes for a specified period and the waiving of interest and penalties) up to a certain year to individuals and businesses for failures to file taxes in previous years so that everyone will start afresh,” he said.