Dalex Finance's Director of Strategy and Business Operations, Joe Jackson, has encouraged the government to raise taxes to encourage borrowing.
He noted on Citi FM's 'The Big Issue' show that, because of Ghana's dangerous financial status, the country must borrow to keep the economy afloat, and that the borrowing must be offset by tax collection.
"Taxes will have to rise in this new budget." He stated, "They must handle the concerns of exemptions and property taxes." "Taking out a loan is not an option. We wouldn't be able to exist if we didn't steal. We've already passed that stage. The economy will crumble if we don't borrow."
According to Jackson, the government should focus on making borrowing "as easy as possible."
"Anyone who thinks life will be easy is going to have a difficult time," Joe Jackson cautioned.
He believes that Ghana's current economic situation will eventually force the country to seek assistance from the IMF.
"Ghana's economy would eventually force the Akufo-Addo government to seek assistance from the IMF," Jackson said.
"The dialogue [regarding IMF funding] has to be about how we make it politically tolerable," he said.
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