Mona Quartey cautions against increased levy on mining sector

Former Deputy Finance Minister Mona Quartey has raised concerns over the government's decision to increase the Growth & Sustainability Levy on mining companies from 1% to 3%, warning it could burden the extractive sector.

While Finance Minister Dr. Cassiel Ato Forson justifies the hike as a way to capitalize on rising global gold prices, Quartey argues it may strain production costs.

Speaking on The Big Issue on Channel One TV, she stressed that while short-term revenue generation is necessary, prolonging the levy could hinder Ghana’s economic recovery, as the extractive sector plays a vital role in foreign currency inflows and debt reduction. She urged the government to reconsider its long-term impact.