In a groundbreaking move aimed at bolstering women’s health and empowerment, the government has declared the elimination of taxes on sanitary pads. The decision, announced during the presentation of the 2024 budget statement by Finance Minister Kennedy Ofori-Atta, zero-rates the value-added tax (VAT) on locally produced sanitary pads, anticipating a positive impact on the nation’s economy.
Addressing the parliament, Minister Ofori-Atta asserted, “This decision to scrap taxes on sanitary pads reflects our commitment to addressing women’s health needs and promoting gender equality, further contributing to the consolidation of public finances.”
The elimination of taxes on sanitary pads marks a pivotal step toward enhancing affordability and accessibility to these essential hygiene products for all women. The move is expected to have far-reaching benefits, improving menstrual hygiene management and alleviating the financial burden on women and girls.
Economists anticipate a positive impact on the real sector and overall Gross Domestic Product (GDP), projecting an increase from 2.3% in 2023 to an impressive 2.8%. By 2027, the GDP is estimated to reach a remarkable 5%, attributing this growth in part to the decision to eliminate taxes on sanitary pads.
Women’s rights activists and health advocates have lauded the government’s initiative, acknowledging it as a significant stride towards gender equality and addressing the distinct healthcare needs of women. They express hope that this move will pave the way for additional measures prioritizing women’s health and well-being.
The Finance Minister’s emphasis on consolidating public finances and reducing the burden of public debt is recognized as pivotal in fostering an environment conducive to economic growth. The positive economic outlook is attributed to various measures, with the decision to eliminate taxes on sanitary pads standing out.
As women across the country applaud this progressive policy, the removal of taxes on sanitary pads is poised to positively impact their lives while contributing to the overall growth and development of the nation’s economy. This significant stride reinforces the government’s dedication to social and economic development, fostering a more inclusive and equitable society.