Prepare for more taxes in the next budget to support government borrowing – predicts Joe Jackson
He made the revelation on Citi FM this Saturday, October 22.
“They must resolve the problems of exemptions and property taxes,” he added.
He said Ghana must continue to borrow to keep the economy afloat, and the borrowing should be matched by tax revenue.
“Borrowing is not a choice. You cannot exist without borrowing. We are past that point. Not borrowing will collapse the economy, ”he said.
Mr Jackson also said that the country’s current debt stock of GHS 332 billion means Ghanaians must prepare for difficult economic times ahead.
“For anyone who thinks life is going to be easy, it will be a tough time,” Jackson warned.
He concluded that the current state of the economy means that the administration led by Akufo-Addo has no choice but to look to the IMF for support.
“The conversation [about IMF support] has to be how we make it as politically acceptable as possible, ”he said on Citi FM’s political show The Big Issue.