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
-
Total revenue & grants stood at GH¢144.5bn in July 2026, slightly below target – BoG
15 minutes -
Ghana Sports Fund urges sports federations to submit credible proposals and measurable targets
18 minutes -
Musk says US government may be behind slowdown of Ukraine drone speeds
36 minutes -
Picking Chief Justices nearing retirement could give Mahama immense power – Bentil
46 minutes -
Netflix to shed 1,000 jobs in steepest cuts since 2022
1 hour -
Burnham had two hospitality dinners with Man City chairman, deleted records show
1 hour -
Semenyo ‘froze’ after alleged racist abuse, court told
1 hour -
‘Shameless’ – Mourinho critical of Vinicius Jr ban timing
2 hours -
Loyalty can outweigh competence in Chief Justice selection – Bentil
2 hours -
Man City suffer as PSG masterclass sets up Champions League win
2 hours -
Customer Service Africa CEO urges business leaders to observe staff and customer interactions
2 hours -
On night of mayhem for Liverpool, Barcola arrives in style
2 hours -
Muzic Mensah finds healing and renewed love in new single ‘WayƐ Late’
3 hours -
FIFA to offer extra £2.6bn for football development
3 hours -
Government backing is no EPA permit – Authority warns GoldBod, ministries
3 hours