According to an economics professor, 84 percent of the country’s tax revenue goes into repaying interest on the debt. According to an economics professor, 84 percent of the country’s tax revenue goes into repaying interest on the debt. “Tax compliance is very weak in this country, and therefore we have a problem with our tax system and tax administration; we have to critically look at it. That is why the country’s debt has increased from GH¢9.8billion in 2008 to GH¢205billion as we speak. “If you take the interest that we pay on government debt, it is about more than 84 percent of tax revenue.

Source: GhanaWeb October 07, 2022 13:11 UTC