Prof. Gatsi advises government to prioritize revenue generation for growth and development in 2024 budget

Prof. Gatsi emphasized the importance of the government addressing tax system leakages and improving tax compliance to increase revenue. He highlighted the crucial role of a strong revenue base in funding development projects, providing essential services, and reducing reliance on borrowing.

Additionally, Prof. Gatsi urged the government to be cautious in its spending and prioritize long-term beneficial investments for the economy. He stressed the need for strategic planning and prioritization in budget allocation to ensure resources are directed towards sectors that will drive economic growth.

Furthermore, Prof. Gatsi called for transparency and accountability in public finance management to build trust among citizens and investors. He emphasized the importance of effective monitoring and evaluation mechanisms to ensure efficient use of allocated funds.

In summary, Prof. Gatsi’s advice underscores the significance of revenue generation as a key driver of economic growth and development.

By prioritizing revenue mobilization, addressing tax leakages, and making strategic investments, the government can establish a solid foundation for sustainable economic progress and improved living standards for the people of Ghana.

MP Alhassan Suhuyini, who represents the Tamale North Constituency, announced that the Minority in Parliament is opposed to imposing new taxes on Ghanaians and will not support such measures in the upcoming 2024 Annual Budget Statement and Economic Policy presentation by Finance Minister Ken Ofori-Atta on November 15.