According to the latest World bank report, Ghana stands to gain additional revenue equivalent to at least 0.6% of its Gross Domestic Product (GDP) next year if the government fully implements measures outlined in the 2025 budget.
In its latest Ghana Economic Update released in Accra on Wednesday August 14, the World Bank projected that the country’s revenue outlook could significantly improve in line with the targets of the IMF-supported Extended Credit Facility (ECF) programme.
Speaking at the launch, The World Bank Country Director Robert Taliercio said, key policy reforms—including full enforcement of the tax exemption law and the creation of a tax expenditure register—would enhance transparency and accountability in Ghana’s revenue mobilisation efforts.
“The effective implementation of these measures is essential to achieving fiscal sustainability and improving service delivery,” Mr Taliercio noted.
The report also urged the government to strengthen the Ghana Revenue Authority (GRA) by accelerating the rollout of the Integrated Tax Administration System and conducting risk-based audits to improve tax compliance.
On the expenditure side, the Bank recommended full adoption of Public Financial Management (PFM) tools such as the Ghana Integrated Financial Management Information System (GIFMIS) and the Ghana Electronic Procurement System (GHANEPS) across all Ministries, Departments, Agencies (MDAs), and local government bodies.
It further called for the integration of all public spending accounts into the Treasury Single Account to boost transparency, efficiency, and control over public finances.
The recommendations form part of a broader strategy to support Ghana’s economic recovery and fiscal consolidation under ongoing international support programmes.
