5 things Mahama’s Meet the Press revealed about the Economy

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  1. We may do better than the 7.3% deficit target for 2015. If this happens it will be a strong signal to investors of the government’s ability to stick to the fiscal consolidation programme.

2. Only 30% of Ghanaians pay direct taxes. It’s no wonder that the government has been seeking to charge indirect taxes wherever it spots an opportunity.

3. The taxes on fuel are to take advantage of the price falls due to the global fall in fuel prices. The president believes that fuel prices are still 11% lower than they were pre-deregulation.

4. Commodity price slumps have really affected government revenue. Obviously.

5. Ghana’s tax to GDP is 18%. This is lower than most middle-income countries. And Ghana therefore needs to tax more. [Hopefully by widening the tax net.]

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Jerome Kuseh

Accountant | Economist-in-Training | Private Investor
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