Mid-Year-Review: Tone down appetite for borrowing -Dr. Lord Mensah
Senior Lecturer at University of Ghana Business School Dr. Lord Mensah wants government to look at how revenue can be generated from social interventions.
According to him, Ofori-Atta should tone down appetite for borrowing.
Prudent management in this regard means the finance Minister should slow down the borrowing.
Finance Minister Ken Ofori-Atta will today present to parliament mid-year fiscal policy today.
Ghana’s total debt stock currently stands at 332.4 billion according to latest figures by the Bank of Ghana.
Out of this, Minority caucus of Parliament says President Akufo-Addo is responsible for 60%, an appetite for excessive borrowing.
Minority Caucus of Parliament has thrown an open invitation to Ofori-Atta to announce convincing measures to fix the crippling Ghanaian economy after they predicted deep economic crisis by February 2023 asking government to immediately run for IMF debts reliefs and bailouts
Speaking to African Editors in Accra, Former Deputy Finance Minister in erstwhile Mahama regime Dr. Cassiel Ato Forson said “Ghana will not be attractive to the bond market”.
There is revenue shortfall because Ghana Revenue Authority has not been able to hit its revenue target for the first and second quarter of the year.
Economist at University of Ghana Dr. Ebo Turkson is urging Finance Minister to put in force aggressive revenue mobilisation.
“We should hope that government will widen the tax base by increasing“, he said.
“Finance Minister should tell us how he intends to procure the one million Covid-19 jabs of vaccines”.
Source : africaneditors.com