Business News of Monday, 26 January 2015
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 marginally in 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 hard work.