World Bank Sees Potential 0.6% GDP Revenue Boost for Ghana in 2025
Ghana could generate additional revenue equivalent to at least 0.6 percent of GDP in 2025 if government fully implements the revenue measures outlined in the 2025 Budget, the World Bank has projected.
The estimate, contained in the Bank’s latest Ghana Economic Update report, aligns with the fiscal targets under the IMF-supported Extended Credit Facility (ECF) programme.
Launching the report in Accra, World Bank Country Director Robert Taliercio said full enforcement of the Tax Exemptions Act and the establishment of a comprehensive tax expenditure register would be key to enhancing transparency and accountability in revenue mobilisation.
The Bank further urged government to strengthen the capacity of the Ghana Revenue Authority (GRA) to deploy the Integrated Tax Administration System and conduct risk-based audits to boost tax compliance.
On public financial management, the report recommended the full adoption of systems such as the Ghana Integrated Financial Management Information System (GIFMIS) and the Ghana Electronic Procurement System (GHANEPS) across all ministries, departments and agencies (MDAs) as well as metropolitan, municipal and district assemblies (MMDAs).
It also called for integrating all spending accounts into the Treasury Single Account to improve transparency, efficiency, and expenditure control.
“Improving tax administration, broadening the tax base, and strengthening public financial management will be critical to achieving sustainable fiscal consolidation,” the report stated.
