Finance Minister, Seth Terkper, says Ghana faces a potential fall in revenue this year mainly from the fall in global crude oil prices.
The Minister also warns that fall in prices of gold and cocoa will also take a toll on the country's finances.
Mr Terkper was addressing senior officers of the Ghana Revenue Authority (GRA) last week.
The Minister was commending the GRA officials for falling short only marginally of achieving its 17.61 billion target last year by 2.7%,.
Mr Terkper said GRA rose to the occasion during shortfalls either due to output or fall in GDP.
"You demonstrated patriotism, put in extra effort and always fulfilled the nation's need for revenue", he told the GRA officials.
He said despite GRA's own challenges it has been able to achieve a substantial part of its revenue collection target for 2014.
As reward, the Minister gave assurance that bonuses will be paid the GRA officials for their hardwork.
Latest Stories
-
PPDC spearheads Africa’s AI development at DRIF24 forum
7 mins -
Ripoti App launched to empower journalists, others to tackle digital rights violations in Africa
23 mins -
Ground-breaking health investment charter to tackle worker shortages in Africa
28 mins -
From Mortuary to Matrimony: Feature on how couple’s love journey brewed at the morgue airs on Joy Prime
43 mins -
Ghana’s LPG prices rank among the highest globally – LPG Marketers Association
50 mins -
Filth Exhibition: Residents near Korle Gonno bear the brunt of nationwide filth
1 hour -
We’ve not selected NPP members as returning officers – EC replies Mahama
1 hour -
We’ll not honour any invitation – ECG tells Ashanti Regional Minister
2 hours -
Dumsor vigil to hit Accra
2 hours -
Supreme Court rule for dual citizens to hold other key positions laudable – Kwaku Asare
2 hours -
‘No one is above the law’ – CAF president on match-fixing allegations against Samuel Eto’o
2 hours -
Manchester City thrash Brighton to go second in table
3 hours -
NDC’s running-mate speech proves readiness to lead – Asah-Asante
3 hours -
Further win for nibima as another KNUST study supports medicinal prowess
3 hours -
World Bank’s food price index eases; maize, wheat prices hit 3-year low
4 hours