Increasing Africa’s Fiscal Space

  • Date: 14 July 2015, 10:00am - 12:30pm
  • Location: Elilly Green Hall

Organised by

  • United Nations Economic Commission for Africa
  • Ministry of Finance of the Federal Democratic Republic of Ethiopia
  • McKinsey & Company

Summary

African governments generate USD 294 billion in tax revenues (13% of GDP) but the continent’s tax ratio lags behind that of other emerging regions. Africa has the opportunity to increase tax revenue by USD 120-300 billion per year, including USD 25-50 billion over the next five years. Through targeted actions to modernise tax systems and increase domestic revenue, Africa will be able to finance the infrastructure, human capital and agricultural transformation initiatives articulated in many national development strategies and in the Common African Position on the post-2015 Agenda and Agenda 2063. At this event, we will discuss how to: (i) enhance Africa’s fiscal space through national development plans and by mobilising domestic resources; (ii) boost tax revenue generation and public investment in priority areas; (iii) improve transparency and accountability in public finance and mineral resource management; (iv) leverage external support to build the capacity to mobilise and use domestic resources; and (v) enlist global cooperation and coordination to expand Africa’s fiscal space by preventing tax evasion, exchanging tax information and reversing the proceeds of illicit financial flows.

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