[Occasional Paper 17] Strong Economic Growth And Significant Reduction In Unemployment: The Critical Issues To Address In Ghana’s 2019 Budget

Unemployment has become the most serious challenge currently confronting Ghana. Indeed, the unemployment problem has reached a crisis point, given that the rate consistently increased over the most part of the last three decades, and stood at 11.9% at the end of 2015. The overwhelming majority of the unemployed are young people, aged between 15 and 34 years. Only 10% of graduates find jobs after their national service, and available statistics show that sometimes it takes up to 10 years for a large number of graduates to secure employment. Majority of the employed are in the private sector, of which about 90% are in the informal sector. The informal sector is known for its low productivity and very low incomes. The failure of Ghana’s economy to grow at appreciable rates in order to create jobs and improve incomes and livelihoods of Ghanaians has become a major concern.

 

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January 16, 2019

Strong Economic Growth And Significant Reduction In Unemployment: The Critical Issues To Address In Ghana’s 2019 Budget [Occasional Paper 17]

 [Occasional Paper 17] Strong Economic Growth And Significant Reduction In Unemployment: The Critical Issues To Address In Ghana’s 2019 Budget Unemployment has become the most serious challenge currently confronting Ghana. Indeed, the unemployment problem has reached a crisis point, given that the rate consistently increased over the most part of the last three decades, and stood at 11.9% at the... Read more
January 16, 2019
Leslie Mensah delivering post 2019 budget statement

IFS Ghana’s Post-2019 Budget Press Statement

IFS Ghana’s Post-2019 Budget Press Statement Ahead of the reading of the 2019 budget, IFS presented its views and expectations in key areas in a press conference. After the reading, the Institute has assessed the budget in light of its expectations. The Institute is once again meeting with the press to comment on issues it deems pertinent. The presentation will... Read more
January 14, 2019

Enhancing Revenue Mobilization in Ghana through Tax Compliances

Enhancing Revenue Mobilization in Ghana through Tax Compliance. Ghana’s tax/GDP (rebased) ratio currently sits below 13%. Not only is the country’s tax revenue as a share of GDP low in absolute terms, but it is also very low as a share of GDP relative to those of its African peers, pointing to the need to significantly increase tax revenue. Developing... Read more
January 9, 2019

Enhancing Revenue Mobilization in Ghana through Tax Compliances

Fiscal Alert 16: Enhancing Revenue Mobilization in Ghana through Tax Compliance.

Ghana’s tax/GDP (rebased) ratio currently sits below 13%. Not only is the country’s tax revenue as a share of GDP low in absolute terms, but it is also very low as a share of GDP relative to those of its African peers, pointing to the need to significantly increase tax revenue.

Developing mechanisms to improve tax revenue has, however, become challenging on at least two fronts: (i) lack of good data on tax compliance; and (ii) difficulty in finding effective instruments for improving compliance, given the institutional constraints.

One way to raise more tax revenue, therefore, is to improve the effectiveness of the tax administration system. Another important way is to improve tax compliance. This means strengthening the capacity and resources needed for better taxpayers’ services and enforcement, reviewing tax structures, and investing in skills and management systems needed to establish a productive tax system.

This fiscal alert makes recommendations on how to improve revenue mobilization in Ghana through tax compliance.
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