The government has fallen short of its half-year revenue target by about 13%.
From January to June of this year, total revenue and grants totaled GHS 28.3 billion, compared to a budgeted amount of GHS 32.4 billion.
In terms of expenditure, the government performed better, falling short of its budgeted amount by approximately GHS 5 billion, spending GHS50.6 billion against a budgeted target of GH55.1 billion.
This was captured in the Mid-Year budget review presented by the Minister of Finance Ken Ofori-Atta in Parliament on Thursday.
The Minister reiterated governments’ commitment to collect what is due the Republic while blocking all revenue loopholes using the Revenue Assurance and Compliance Enforcement (RACE) program.
“Our focus on taxes is to collect what is due the Republic. To this end, we are building a robust framework to expand Domestic Revenue Mobilization to focus on compliance and enforcement nationwide. We have established the Revenue Assurance and Compliance Enforcement (RACE).
The remit of RACE is to identify and eliminate revenue leakages in areas such as petroleum bunkering, gold and minerals export, port operations, transit goods, warehousing, border controls and free zones operations, to name but a few.”
source: citinewsroom
