Government must sustain the growth of the economy so it doesn’t decline – Prof. Isaac Boadi, Dean, Faculty of Accounting UPSA
Professor Isaac Boadi, Dean of the Faculty of Accounting at the University of Professional Studies, Accra, says the Government must sustain the growth of the economy so it doesn’t decline.
He made this statement during an appearance on the Maakye program on Kessben FM on Tuesday, July 23, 2024, where he shared his insights on the mid-year budget review.
“Mid-Year expectations are shaped by on-going economic reforms, global economy and government commitment to fiscal discipline,” he said.
He noted that “fiscal growth was 3.1% in June 2023 and in June 2024, the fiscal growth was 4.7%, incurring an increase of 1.6%.”
Mr. Kwabena Owusu Dankwa, the host of the Maakye program, asked him about the significance of the 1.6% increase, to which Professor Boadi replied, “It isn’t encouraging for the economy however it gives the country hope that, if the government put good policies and measures in place, the economy will be great.”
“There are three things that bring about fiscal growth which are the sectors of the economy; agriculture increased by 4.1% higher than the 2023 figure, industry increased by 6.8%, and service by 3.1%. I expect the growth to be sustained over the period,” he explained.
He also emphasized, “In order for the government to increase revenue and reduce debt, revenue mobilization must be done to increase the tax base rather than increase taxes” He added.
WATCH VIDEO BELOW:
Story By: Priscilla Asamoah Baffour
