Revenue we generate can't meet our infrastructural needs, so we borrow – Finance Minister

Dr. Mohammed Amin Adam, the Minister of Finance, has emphasized the insufficiency of the country’s generated revenue to address its infrastructure requirements.

He stressed the need for the government to turn to international borrowing to supplement its efforts in tackling the country’s infrastructure challenges.

During a visit to the Tema Port, as part of a broader economic strategy aimed

Read full articleat reducing revenue losses and combating perceptions of corruption within port operations, the Finance Minister expressed concern about the revenue generated from the various ports across the country. He urged port authorities and the Ghana Revenue Authority (GRA) to enhance their operations to boost revenue collection.

“What we generate in Ghana is not enough to meet our infrastructural needs, and that is why we borrow. When we borrow, we need to pay. Given that you are the foot soldiers when it comes to revenue mobilization, let me commend you for the sacrifices you continue to make to improve our revenue efforts,” he remarked.

Furthermore, he announced measures to plug revenue leakages at the port, stating that the GRA commissioner-general must approve goods leaving the warehouses.

“I have received information that there are some goods that are not accounted for, and I have been discussing with the commissioner-general on how we resolve this. We must implement stringent measures to ensure the accountability of commanders at the warehouses. The commissioner-general will have to approve every goods that leaves the warehouse,” Dr. Adam emphasized.