Domestic revenue mobilization target fell short of its target for the first half of 2019 by about GH¢4.2 billion, the Finance Minister Ken Ofori-Atta has told Parliament.
Government over the past three years has struggled to achieve its revenue targets and this year’s shortfall comes as a little surprise.
Explaining the reasons behind the shortfall, Mr. Ofori-Atta stated that: revenue mobilisation fell short of target due mainly to shortfalls in customs receipts and non-oil Non-Tax revenues.
He, however, continued that expenditures remained broadly within target albeit the pace of execution was faster due mainly to the need to accommodate some unprogrammed expenses on border security.
“These developments pushed our financing requirements above the programmed limits for the period to enable us to address these additional expenditure pressures. Consequently, the fiscal deficit for the period widened from a programmed target of 2.9 percent of GDP to 3.3 percent,” he stated,