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Submitted by Gerald on

Nice post. On point 1 though, the conclusion may be only partially on point. To me the conclusion seems to be that the tax base needs to be carefully revamped. A 10% tax to GDP ratio will not provide enough resources for authorities to provide necessary infrastructure and services that are public in nature. The counterpoint to this is that such a low tax base could be very attractive for private capital to be crowded in, subject to addressing other barriers you mentioned.