A former Deputy Finance Minister, Dr Stephen Amoah, has called for a paradigm shift in Ghana’s fiscal management, emphasising the need for economic independence, debt sustainability and transparent governance.
Speaking to the media in Parliament ahead of the budget reading on November 13, 2025, he explained the challenge the country faces with the effective tax rate.
He stressed the importance of moving forward with a clear focus on expenditure, revenue and debt management.
The economy is bigger than political parties – Stephen Amoah
“Our fiscal space is the main thing we are dealing with and that entails our expenditure, our revenue and then our debt sustainability issues. We should be able to present a budget that can provide the assurance of Ghana being economically independent and also attaining that goal of being able to manage our debt sustainably because it’s getting too much and also being able to generate revenue as expected as a country”, he noted.
The Member of Parliament for Nhyiaeso said building resilience and stability requires transparency in governance.
Current economic stability built on NPP’s strong foundation – Nhyiaeso MP
“I would like them (NDC) to be very transparent and fair with what we left for them, what they actually inherited. Because if they make mistakes, they’ll be exposed,” he said.
The former minister underscored the need for the public to see clearly what the government inherited and what it has added.
“Something for Ghanaians to know that for once, our budget is giving us hope. Our budget is giving us hope of economic independence, hope of well-positioned fiscal space or policy framework, hope of debt sustainability, hope of job creation, regular job creation and hope of, of course, sustainable infrastructure policy framework. This is what I’m expecting from them.”
Addressing the issue of revenue generation and taxation, he was candid about the nation’s challenges.
“We are not paying adequate taxes, I’m being honest with you, but because of politics… when it comes to revenue generation, we should take away politics. When the NDC guys are in government and they are bringing tax policies, MPP guys will say no and vice versa.”
He urged policymakers to prioritize what is best for the country rather than political interests.
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