Abeiku Quansah, a Tax Expert at Price Waterhouse Coopers, Ghana, has stressed the importance of ensuring greater independence and legislative support for Ghana’s fiscal council to improve fiscal discipline.
He highlighted that, as a non-partisan expert body, the council has access to comprehensive data and plays a crucial role in monitoring specific targets.
Mr. Quansah also advocated for a stronger fiscal rule that not only focuses on deficit management but also incorporates debt sustainability, establishing a more robust framework for economic stability.
” So one of the roles that a fiscal council can do will be based on a lot of analysis. They could even influence and ensure that the targets that are set are targets that are right to be achieved.
And then they have the necessary legislative backing to be as independent as possible to advise government to be able to stay within those targets that have been said. We need to tighten the loose end. Our fiscal rule was based on a fiscal deficit.
So we need to anchor it on an area of debt as well so that we strengthen it a little bit.
