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For every GHS1 tax collected, 84 pesewas pay debt – Professor Kusi

Executive Director of the Institute for Fiscal Studies (IFS), Prof. Newman Kwadwo Kusi, has decried the quantum of tax revenue that goes into debt repayment – saying it is time government put in efforts to restructure the tax system to rake in more revenue.

According to the economics professor, 84 percent of the country’s tax revenue goes into repaying interest on the debt.

What this essentially means is that for every GH¢1 tax collected, 0.84 pesewas goes into paying interest on the debt – thereby leaving virtually nothing in government’s coffers to take care of capital expenditure.

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