Professor Felix Ankomah Asante, the Director, Institute of Statistical, Social and Economic Research (ISSER), University of Ghana, has called for domestic resource mobilisation for sustainable national development.
He said for President Nana Addo Dankwa Akufo-Addo’s “Ghana Beyond Aid” Agenda to be attained, there was the need for domestic public resource mobilisation.
Prof. Asante stated this in an interview with the Ghana News Agency on the side-lines of the launch of the International Monetary Fund’s (IMF) 2018 Regional Economic Outlook for sub-Saharan Africa, dubbed: “Sub-Saharan Africa: Domestic Revenue Mobilisation and Private Investment,” at the University of Ghana.
The event was organised by ISSER in collaboration with the IMF.
He said if Ghana was able to raise more domestic revenue from taxes, there would be no need borrowing for infrastructure development.
“If we are able to mobilise more revenues, some of the key indicators for Ghana’s development like interest rate to gross domestic products (GDP) ratios and all those will come down,” he said.
He called for all hands on deck to mobilise domestic resources for more revenue.
Prof. Asante said Ghana needed to find a very convenient way of collecting property rates and other taxes.
On the 2018 Regional Economic Outlook for sub-Saharan Africa, which focused more on domestic resource mobilisation and private investment,
Prof. Asante said a critical look at data showed that it was a source of concern to most African countries including Ghana.
“If we are able to raise more revenues, issues relating to our debt servicing will all be a thing of the past,” he said.