By Laudia Anyorkor Nunoo, GNA
Tema, Nov. 11, GNA – Mr Benjamin Anyagre Aziginaateeg, the Leader of the AfriKan Continental Union Consult (ACUC) has said that Ghana must strengthen its domestic revenue mobilisation and productive sectors to reduce its dependence on external creditors and financing arrangements.
Mr Aziginaateeg stressed that economic sovereignty required the country to build sufficient financial capacity to determine its development priorities without being excessively constrained by external creditors.
Speaking to the Ghana News Agency (GNA) in an interview, Mr Aziginaateeg Ghana should progressively reduce its dependence on International Monetary Fund (IMF) financing and external borrowing by strengthening its own economic foundations.
He explained that this did not mean rejecting international cooperation but ensuring that the country negotiated from a position of economic strength and pursued partnerships that supported national development priorities.
He cited the IMF’s July 2026 assessment, which indicated that Ghana could potentially reduce its primary surplus target from 1.5 per cent of Gross Domestic Product in 2026 to 0.5 per cent from 2027, subject to continued fiscal reforms and debt sustainability.
The ACUC leader said the fiscal outlook could create an opportunity for the government to devote more resources to development expenditure and social investment, stressing, however, that the country needed stronger revenue systems and improved public financial management to sustain such an approach.
He added that Ghana must improve revenue collection from mining, petroleum, property taxation, the digital economy and public enterprises, while calling for stronger action against illicit financial flows, transfer mispricing, corruption and expenditure leakages.
He said the government should support local production, agricultural development, manufacturing and small businesses to strengthen the domestic economy and reduce dependence on imported goods.
Mr Aziginaateeg further urged the government to direct more resources towards decent employment, social protection, rural development and essential public services, noting that the 2027 budget should represent a transition from macroeconomic recovery towards economic transformation and greater national control over development priorities.
According to him, the government must broaden the tax base, strengthen revenue compliance and eliminate financial leakages rather than increase the tax burden on struggling households and productive businesses.
He said stronger domestic revenue mobilisation was necessary to finance national development and reduce Ghana’s dependence on external borrowing and financial assistance.
He cited revenue and grants of GH¢99.4 billion in the first half of 2026, representing a 29 per cent increase over the corresponding period in 2025, stating, however, that the amount was approximately 10 per cent below the programmed target of GH¢110.4 billion.
According to him, the revenue shortfall highlighted the need for innovative measures to improve domestic revenue mobilisation and strengthen public financial management.
The ACUC leader recommended reviews of mining concessions, royalties, tax exemptions and revenue-sharing arrangements to ensure that the country derived appropriate benefits from its natural resources.
He urged the government to also strengthen customs controls and address smuggling and under-invoicing while improving the operational efficiency of public enterprises to ensure appropriate dividend payments to the state.
He further recommended periodic cost-benefit reviews of tax exemptions to identify and eliminate unjustified concessions, while proposing simplified, fair and accessible taxation systems in the informal sector to encourage voluntary compliance.
Mr Aziginaateeg also called for stronger action against illicit financial flows, transfer mispricing, corruption and the concealment of taxable wealth, stressing that government procurement systems should be strengthened to eliminate inflated contracts, corruption and expenditure leakages.
He said revenue mobilisation should be guided by the principle of broadening the tax base, improving compliance and ensuring that those with greater economic capacity contribute fairly.
GNA
Edited by Benjamin Mensah
Reporter: Laudia Anyorkor Nunoo, GNA
Email address: [email protected]