Govt generated GH¢1.19 billion in revenue from the E-levy in the year 2023 John Kumah

Deputy Minister of Finance, Dr. John Kumah, has disclosed that the government generated a total of GH¢1.19 billion in revenue from the E-levy in the year 2023.

According to him, the amount has been strategically allocated to various initiatives aimed at addressing unemployment in the country.

These include the YouStart Programme by the Ghana Enterprise Agency, and the National Entrepreneurship and Innovation Programme.

He disclosed this while addressing the media at the launch of the Wealth and Jobs Expo Ghana on Wednesday, February 21, 2024.

“The Ghana Statistical Service on Wednesday announced that about 1.5 million Ghanaian youth are unemployed. Last year, E-levy generated GH¢1.19 billion and as part of dealing with the job situation… unemployment situation, the government has committed funds through YouStart from this E-levy sources…to GEA and NEIP to address the unemployment situation in the country, and I am happy to announce that institutions like Wealth and Jobs Expo and all private groups that are willing to help create jobs in the private sector will also be supported to help create jobs and businesses in the private sector,” he said.

Meanwhile, the 2023 Annual Household Income and Expenditure Survey Third Quarter Labour Statistics Report has said during the first three quarters of 2023, the unemployment rate rose to 14.7%.

This represents a 1.1% increase from the previous year’s figure of 13.6%.