
Audio By Carbonatix
The Deputy Ranking Member on Parliament's Finance Committee, Dr Gideon Boako, says persistent revenue shortfalls are compelling the government to borrow to finance critical national programmes, including education.
Speaking in Parliament on Tuesday, the Tano North MP argued that weak revenue performance has undermined government's ability to fund essential sectors from domestic resources.
He cited official fiscal figures to support his argument, saying, "Even if you look at the fiscal data for quarter one of 2026 alone, VAT we were below 6% of our target, NHIS Levy, we fell by 29.9% of the target, for GETFund, 29.9% of the target, for crude oil receipt, 37% of target, excise 23%, import duties 14% of target."
Dr Boako added that, "When these happen, all that the government needs to do is to cut expenditure and when it is unable to use revenue for such critical expenditure, the government will have to resort to borrowing."
The MP made the remarks while contributing to parliamentary debate, calling on the Finance Ministry to intensify efforts to improve revenue collection and reduce the country's dependence on borrowing.
Latest Stories
-
Police armoured vehicle thief gets one month behind bars
9 minutes -
Hoops for All Youth Camp ends on high note, inspires next generation of basketball talents
16 minutes -
Trader in court over alleged offensive TikTok video
19 minutes -
Synchora Health pilots digital immunisation reminder system in Ashanti region
28 minutes -
Lotto agent in court over publication of false news
30 minutes -
ICI child protection efforts expand across West Africa’s cocoa communities
32 minutes -
NDPC, AFIDEP deepen partnership to advance women’s economic empowerment
42 minutes -
Yamin and Abanga probe over alleged galamsey links still ongoing – Dr Srem-Sai
1 hour -
Government turning to borrowing too soon after IMF programme – Gideon Boako
1 hour -
Revenue shortfalls forcing government to borrow – Gideon Boako
2 hours -
Government cut spending after missing revenue targets – Gideon Boako
2 hours -
I didn’t abandon my client; I travelled for my daughter’s graduation – Atta Akyea
2 hours -
Wontumi chose trial over plea bargain – Deputy AG rejects NPP’s ‘political prisoner’ claim
2 hours -
Free SHS should be funded with local revenue, not loans — Gideon Boako
2 hours -
2 persons arrested for illegal mining activities close to Agenda 111 Hospital
2 hours