The Member of Parliament for Kwadaso, Prof Kingsley Nyarko says government must device means to enhance domestic revenue in the wake of the prevailing economic crisis.
According to him, this will help reduce the rate at which government borrows from external creditors.
“We need to enhance domestic revenue. That is the way to go. If we are able to enhance or improve upon domestic revenue, it will help us to be able to cut down on borrowing,” he said.
The MP explained that given that government must provide communities with basic necessities such as good roads and quality healthcare, it should be able to generate enough domestic revenue to ensure those are achieved.
Without enough domestic revenue, it becomes difficult for the government not to borrow from external creditors in order to provide the aforementioned basic necessities, according to Prof. Nyarko.
His comments come on the back of the Minority Caucus’ calls for parliament to introduce debt ceiling to curb excessive borrowing.
The caucus has been expressing their worry over the total debt incurred by the current government since 2017.
Also speaking on the same show, MP for North Dayi constituency, Mr. Rockson Nelson Dafeamekpor suggested that the total debt incurred under the current administration be audited for the purpose of accountability.
He says this needs to be done in order to verify if the country is getting value for money in its dealings.
“We should audit our debt. The borrowings that we’ve done so far within the past seven years, we need to vet it, we need to audit it. Are we getting value for money?” he said.
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