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Gov’t Scraps Tax on Sanitary Pads, Boosting Economic Growth

In a move aimed at promoting women’s health and empowering women, the government has announced the elimination of taxes on sanitary pads.

The decision, which zero rates the value-added tax (VAT) on locally produced sanitary pads, is expected to have a positive impact on the country’s economy.

The Finance Minister, Kennedy Ofori-Atta, while presenting the 2024 budget statement, highlighted the importance of this decision.

He stated, “Mr. Speaker, public debt accumulation has slowed down significantly as the government continues to consolidate its public finances. This decision to scrap taxes on sanitary pads reflects our commitment to addressing women’s health needs and promoting gender equality.”

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The elimination of taxes on sanitary pads is a significant step towards making these essential hygienic products more affordable and accessible for all women. The move is expected to have far-reaching benefits, improving menstrual hygiene management and reducing the financial burden on women and girls.

Furthermore, this decision is expected to contribute to the growth of the real sector and boost the country’s overall Gross Domestic Product (GDP). Economists project that the overall real GDP growth, which is expected to be 2.3% in 2023, will increase to 2.8%. By 2027, it is estimated to reach an impressive 5%.

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The government’s commitment to consolidating public finances and reducing the burden of public debt has played a pivotal role in creating an environment conducive to economic growth. The Finance Minister emphasized that the positive economic outlook reflects the impact of various measures, including the decision to eliminate taxes on sanitary pads.

Women’s rights activists and health advocates have welcomed this move, recognizing it as a significant step towards promoting gender equality and addressing the unique healthcare needs of women.
They hope that the elimination of taxes on sanitary pads will pave the way for similar measures that prioritize women’s health and well-being.

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The government’s decision to scrap taxes on sanitary pads is a testament to its commitment to promoting social and economic development. By addressing the financial barriers associated with menstrual hygiene products, the government is taking a crucial step towards creating a more inclusive and equitable society.

As this progressive policy takes effect, it is expected to positively impact the lives of women across the country, while also contributing to the overall growth and development of the nation’s economy.

Credit: Dailyguide

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