The Member of Parliament for Nhyiaeso and former Deputy Finance Minister, Dr Stephen Amoah, says the current government’s economic stability efforts are being made possible because of the solid foundation laid by the New Patriotic Party (NPP) during its time in office.
Speaking to JoyNews ahead of the presentation of the 2026 Budget in Parliament on Wednesday, Dr Amoah explained that Ghana’s fiscal challenges are rooted in limited domestic revenue compared to expenditure.
He argued that while calls for tax reductions are understandable, they must be balanced with sustainable alternatives to prevent worsening the country’s debt situation.
“The amount of money we generate domestically is always far less than the amount that we expend,” he said.
“If you want to take away taxes, that’s fine — but give us an assurance that the fiscal space we are working within, considering our debt issues, can still support the economy sustainably.”
Dr Amoah stressed that revenue generation must be strong enough to reduce the nation’s dependence on borrowing.
“We need to ensure that the revenue we generate will be enough, not to put any burden on us, but to make Ghana economically independent,” he added.
The former deputy minister maintained that the NPP government had laid a strong foundation through fiscal discipline and structural reforms, which he believes the current administration continues to benefit from.
The 2026 Budget, set to be presented later in the day, is said to highlight revenue mobilisation, debt sustainability, and job creation as part of efforts to consolidate Ghana’s economic recovery.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Source link
