Revenue shortfalls forcing government to borrow - Gideon Boako

The Deputy Ranking Member on Parliament's Finance Committee, Dr Gideon Boako, says persistent revenue shortfalls are compelling government to borrow to finance critical national programmes, including education.

Speaking in Parliament on Tuesday, July 20, 2026, 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.

AM

GhanaWeb launches maiden Real Estate Platform



Ghanaians welcome GhanaWeb’s digital solution for real estate challenges



GhanaWeb's Real Estate Platform will benefit property sector – Rev. Dr. Nanayaa Prempeh

Do your due diligence before investing in real estate – GhanaWeb CEO David Antwi