Ghana’s Finance Minister, Cassiel Ato Forson, has inaugurated a new Governing Board for the Ghana Revenue Authority (GRA), charging it with strengthening domestic revenue collection as the country navigates severe fiscal constraints.
The move comes amid limited access to international capital markets, tightened financing conditions, and reduced development aid following Ghana’s recent debt restructuring program.
Speaking at the ceremony in Accra, Forson underscored the urgency of mobilizing domestic revenue to offset external funding shortfalls, including the loss of $78 million in USAID health support and $156 million for economic and education programs. The government aims to increase annual revenue collection by 0.6 percentage points of GDP, targeting a primary fiscal surplus of 1.5% by 2025 and reducing the external debt service-to-revenue ratio from 28% in 2022 to 18% by 2028.
Key priorities for the board include modernizing GRA operations, curbing smuggling and corruption, and fostering a performance-driven organizational culture. Forson emphasized collaboration with the Finance Ministry’s Revenue Policy Division and announced plans for a mandatory two-year rotation policy for GRA officers to mitigate collusion risks and enhance institutional integrity. A performance-based bonus system will also be introduced through a memorandum of understanding with the GRA Commissioner-General.
“Every tax cedi collected brings us closer to building schools, paving roads, and improving healthcare,” Forson stated, linking revenue integrity to national development. He acknowledged President John Mahama for appointing a team of experienced professionals to lead the GRA during this critical period.
The initiatives reflect Ghana’s broader strategy to reduce reliance on volatile external financing while addressing structural inefficiencies in tax administration. Success in these efforts could bolster fiscal stability, particularly as global economic uncertainties persist. However, achieving these targets will require navigating entrenched challenges, including informal economic activity and public trust deficits in revenue institutions.
The GRA’s renewed mandate highlights the delicate balance between aggressive revenue mobilization and maintaining equitable enforcement, a task that will shape Ghana’s economic resilience in the coming years.
