By Joshua Worlasi AMLANU
Finance minister Dr. Cassiel Ato Baah Forson has urged the Ghana Revenue Authority (GRA) to exceed its revenue targets for 2025.
Speaking during a working visit to the GRA headquarters in Accra, he commended the authority for surpassing its 2024 target but stressed the need for even greater performance this year.
The GRA has surpassed its 2024 revenue target, collecting GH¢ 153.5 billion, a 5.3 percent increase over the projected GH¢ 145.9 billion.
This translates to a nominal growth of 35 percent compared to 2023.
Key drivers of this performance include robust growth in domestic revenue (31.6 percent) and customs (47 percent), exceeding expectations across several tax handles. Notably, corporate tax collections reached GH¢ 38 billion, surpassing the GH¢ 30 billion target.
Addressing GRA management, Dr. Forson highlighted the country’s limited borrowing options in the current fiscal environment.
“Without revenue, there is little you can do. We do not have access to the Eurobond market, commercial bank loans, or even the domestic bond market. The only access we have is Treasury bills and multilateral loans,” he said.
He added that these constraints make domestic resource mobilisation more crucial than ever.
The minister noted that, under the International Monetary Fund (IMF) programme, the government is obligated to raise additional tax revenue equivalent to 0.6 percent of gross domestic product (GDP) in 2025.
He called on the GRA to explore innovative ways to meet this target, stressing that the agreement was a national obligation rather than a partisan issue.
“The tax revenue for 2024 was 13.8 percent of GDP, which is too low for a country like ours,” Dr. Forson lamented.
He specifically expressed concerns about customs revenue, noting that its performance had not met expectations.
“I think customs can do more. We will need to discuss what measures can be implemented to improve collections,” he said.
Dr. Forson also acknowledged the importance of teamwork within the GRA, urging the acting Commissioner-General, Anthony Kwasi Sarpong, to encourage a collaborative culture to maximise efficiency.
“Your duty is to help mobilise resources and guide us in achieving this ambitious target,” he stated.
“We need to achieve our targets in such a way that we minimise borrowing because the space is not there,” the minister stressed.
He also urged the GRA to gear up for discussions with the IMF during its upcoming mission to Ghana in February, where the budget preparation process would be reviewed.
Dr. Forson expressed optimism about the GRA’s capacity to meet the 2025 targets, citing its track record in 2024 as a foundation for further improvement. However, he underscored the necessity of exceeding expectations to reduce reliance on borrowing.
GRA
In response, Anthony Kwasi Sarpong, the acting Commissioner-General of the GRA, pledged his commitment to exceeding revenue expectations through teamwork and strategic leadership.
He acknowledged the significant responsibility placed on the authority.
“As GRA, what makes the institution is the people—the management and the entire team,” Mr. Sarpong said. “Together, we can overcome the challenges associated with revenue mobilisation. Under my leadership, we will prioritise creating a team culture that focuses on growth, progress and the welfare of our people.”
Mr. Sarpong reiterated that the authority’s primary mandate would be to grow and achieve revenue targets, noting that every effort would be made to meet the minister’s expectations.
“We will work hard to deliver on our commitments and ensure that we support the nation’s financial needs. This is not an individual effort but a collective one, and when we succeed, it will benefit the entire country,” he stated.
Both the minister and the acting Commissioner-General expressed their determination to leave a lasting legacy of fiscal discipline and national development.
“When we had the opportunity, we built this nation and left it in a state that future generations could build upon. That is the legacy we aim to create,” Mr. Sarpong stated.
Minister of Finance Dr. Cassiel Ato Baah Forson with Anthony Kwasi Sarpong, the acting Commissioner-General of the GRA
