Audio By Carbonatix
The Finance Minister Seth Terkper is likely to outline new measures to address revenue mobilization challenges currently facing the country when he presents the mid-year review of the 2014 budget.
The review could see government revise its marco economic targets set out for this year's budget and some new policies to stabilize the economy.
The current economic difficulties facing the country has affected efforts to raise the required revenue to match government's operations.
The country for first three months of this year failed to collect the GHȻ5.7 billion revenue target set out in the 2014 budget.
This challenge has been influenced by declining prices of Ghana's traditional export commodities like Gold and cocoa and cut in donor funding because of the country's middle income status.
Donor partners have also withheld their support due to concerns with the management of the economy.
Ghana Revenue Authority has had difficulties in meeting targets set for the various tax types because of recent energy crises that hit the country.
A source close to the Authority told Joy Business that the recent tax hikes has further cast shadows in efforts to improve revenue mobilized from businesses.
Analyst see the review, which is expected to before the end of this month, as one of the major interventions by government to help stabilize the economy.
Latest Stories
-
Mammography available in only 5 regions, making breast cancer screening difficult – Radiologist
9 minutes -
Pastor Daniel Amoateng pays for release of 23 Nsawam prison inmates
11 minutes -
Government to equip health facilities with mammography, radiotherapy machines – Deputy Health Minister
13 minutes -
Floodwaters recede in Hohoe as residents begin returning home – NADMO
24 minutes -
Celine Dion kicks off Paris Fashion Week with surprise performance
25 minutes -
4 years of kidney failure: 28-year-old nurse appeals for $100,000 to undergo life-saving kidney transplant
33 minutes -
Hohoe flood: About 5,000 affected as NADMO begins emergency relief
34 minutes -
Why must I renew my vehicle’s registration number every 2 years?
36 minutes -
Parliamentary Privilege and the Limits of Personal Liberty: A study on the immunity of members of parliament from arrest in Ghana
38 minutes -
Kwabenya Court denies bail to six accused in alleged 3.9-tonne cocaine shipment
38 minutes -
Ghana opposes calls to abolish ICC, urges stronger action against crimes against humanity
45 minutes -
Cedi remains under pressure due to Christmas demand; going for GH¢11.90 at forex bureaus
47 minutes -
NDC opens nominations for 2026 regional executive elections on October 6
47 minutes -
Ghanaian nurses to receive higher pay, health insurance and rent allowance under new Saint Kitts and Nevis agreement
56 minutes -
JoyNews’ Emmanuel Adu Gyamfi named ‘Digital Tourism Icon of the Year’ in Ahafo Region
1 hour