Finance Minister Charges GRA to Boost Revenue Mobilization to Overcome Ghana’s Debt Curse
Minister Emphasizes Importance of Cooperation and Teamwork in Achieving Revenue Targets
Finance Minister Dr. Cassiel Ato Baah Forson has urged the Ghana Revenue Authority (GRA) to increase revenue mobilization to help the country overcome its debt curse.
Speaking during a working visit to the GRA on January 23, 2025, Dr. Forson emphasized the need for innovative measures to stimulate compliance and boost domestic revenue.
Ghana’s current economic situation, with limited access to the international capital market, makes revenue generation critical. Dr. Forson noted that the country can no longer rely on external borrowing, saying, “We don’t have access to the Eurobond market, we don’t have access to even commercial bank loans, [and] we don’t have access to domestic bond market.”
The Minister commended the GRA for exceeding its 2024 target but encouraged them to do more in 2025. He tasked the Authority to explore innovative ways to raise an additional 0.6% of Gross Domestic Product (GDP) as tax revenue.
Dr. Forson also stressed the importance of cooperation between the GRA’s Management and the Acting Commissioner-General, Mr. Anthony Kwasi Sarpong, to achieve the government’s transformation agenda. Fiifi Fiavi Kwetey, a former Deputy Minister of Finance, echoed Dr. Forson’s sentiments, emphasizing that revenue is the “lifeline” of every country.
Mr. Kwasi Sarpong pledged to work with the GRA team to create a culture of teamwork, prioritizing progress, growth, and welfare. By doing so, the GRA aims to raise the necessary revenue for the benefit of all Ghanaians and build a lasting legacy.
In a related development, Dr. Forson has previously outlined his vision to raise revenue without increasing taxes, focusing on improving compliance.
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