“By doing so the two authorities are working hand in hand to
bring down inflation and pressure on price stability and stabilizing the
exchange rate, with the target of bringing down interest rates so that
investors can borrow at a more affordable rate and getting the economy going in
the right direction again.
“We need to borrow less and focus more on domestic resource
mobilization. We want long-term resources to avoid repayment and refinancing
pressures.”
The Minister added that the nation’s tax/GDP was too low,
even lower than the African region average and that as such, reforms were
underway to streamline the number of taxes, deploy technology and implement
policies that would double tax revenue in the next three years
“At 10 percent to GDP, what should I say, it would appear as
if some people are not paying their taxes,” he added.