2021 Budget: Seek new ways of raking in revenue - Economist to government

Ahead of the budget reading in Parliament tomorrow, an economist, Dr. George Domfe, has expressed hopes that it will address clear roadmaps towards raking in a lot of revenue to shore-up the debts the country has accrued in the last year due to the coronavirus.

He explained that being no fault of anybody’s, the country’s debt has risen exponentially – to a point where it is “unsustainable”, posing a great threat to the future of the nation.

“We are told that the debt is now hovering around 74% of our GDP. That means that your debt has become unsustainable and therefore, it seems our debt payment are going to be very difficult for us,” he said.

Speaking with GhanaWeb ahead of tomorrow’s reading of the statement, Dr. Domfe said that it will be prudent that the government institutes measures in areas beyond the ordinary, so as to generate more revenue for the country’s economy.

“So, in order that we will save the future generation from bearing too much of our decisions today, or what we are doing today, it is important we expand our tentacles to rake in more revenues,” he said.

President Nana Addo Dankwa Akufo-Addo has asked Osei Kyei-Mensah-Bonsu, the Majority Leader in Parliament, to read the budget tomorrow in the absence of Ken Ofori-Atta. Ken is in the United States seeking further medical care after testing positive for the coronavirus.