As Ghana navigates its economic recovery, Tax Expert Geoffrey Ocansey is emphasizing the importance of fiscal discipline. Ocansey stresses that reduced expenditure, targeted resource allocation, and minimized corruption are crucial for the country’s economic growth.
He notes that Ghana’s borrowing must be strategic, ensuring proper investment returns rather than accumulating debt. Commending the government’s decision to cut the number of ministers to 60, Ocansey urges further measures to control spending and manage debt effectively.
To achieve better revenue collection, Ocansey recommends cutting tax exemptions, boosting local industry, and improving tax communication. This multi-faceted approach will help Ghana regain its economic footing.
Ghana’s economic recovery is a pressing concern, with the country facing challenges such as high inflation, trade tensions, and exchange rate volatility. However, with fiscal discipline and strategic decision-making, Ghana can navigate these challenges and achieve sustainable economic growth.
GBC/Ruth Abla ADJORLOLO
