Ghana’s efforts to expand public investment while restoring fiscal stability will require a stronger domestic revenue mobilisation system, with taxation playing a central role in financing the country’s development priorities, experts have said.

As government continues to invest in critical sectors including roads, education, healthcare and other public services, stakeholders have emphasised the need for effective public financial management, transparency and accountability to ensure sustainable economic growth.

The Public Financial Management Act, 2016 (Act 921), which provides the legal framework for the planning, allocation, management and reporting of public resources, remains a key instrument in ensuring that state funds are managed efficiently and responsibly.

Officials of the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) say Ghana’s renewed focus on public investment makes taxation and sound public financial management increasingly important to achieving its development goals.

A Technical Advisor at GIZ, Dr Aliu, explained that taxation remains at the heart of development financing because a significant portion of government infrastructure projects is funded through tax revenue.

He said journalists have a critical role to play in helping citizens understand Ghana’s tax system and public financial management framework, while also holding public institutions accountable.

“If we can support the media to do their job well, ask the right questions and give the right explanations to the people, then we have achieved the rationale behind this exercise,” he said.

Dr Aliu noted that the media serves as an important link between government and citizens by providing clarity on how taxes are mobilised, allocated and utilised for national development.

Meanwhile, Component Manager of the GIZ Participatory Accountability and Inclusive Economic Reform (PAIReD) programme, Dr Juergen Eheke, has urged Ghanaians to assess the country’s development progress from a broader historical perspective rather than focusing solely on recent economic difficulties.

While acknowledging the impact of the COVID-19 pandemic and its economic consequences, he said Ghana had made significant progress since independence and continued to build on those achievements.

Dr Eheke, however, noted that there was a need to accelerate the pace of economic transformation, citing Malaysia as an example of a country that had achieved faster growth in GDP per capita through sustained reforms and stronger institutions.

“Ghana is on track, but maybe things could go a little quicker,” he said.

He added that GIZ had supported Ghana’s structural reform agenda for several years, stressing that sustainable development required consistent policy reforms, effective institutions and robust public financial management systems.

The remarks were made during a Public Financial Management (PFM) media engagement organised under the GIZ-PAIReD programme. The engagement brought together journalists, public finance experts and development partners to strengthen media capacity in reporting on taxation, budgeting and public financial management.

The initiative forms part of GIZ’s broader efforts to promote informed public discussions, improve fiscal transparency and enhance citizens’ understanding of how public resources are generated, managed and invested in national development.