(Bloomberg) -- Ghana plans to introduce policy measures to grow its tax revenue, Finance Minister Ken Ofori-Atta said.
“There is the need for a new social partnership between government and the people of Ghana, where all will be compliant in payment of taxes given the growth path we need and have chosen,” he said in an interview Monday in Accra, the capital.
The government of the world's biggest cocoa producer after Ivory Coast wants to increase tax revenue to about 25 percent of economic output in the medium term from 16 percent now, Deputy Minister of Information Kojo Oppong-Nkrumah said Monday. The West African nation is preparing to present a mid-year review of the 2018 budget to lawmakers on July 19.
Ghana is targeting to narrow its budget deficit this year to 4.5 percent of gross domestic product, from 6 percent in 2017. The cabinet last year approved an amendment bill that will limit the shortfall to 5 percent.
To contact the reporter on this story: Ekow Dontoh in Accra at edontoh@bloomberg.net
To contact the editors responsible for this story: Rene Vollgraaff at rvollgraaff@bloomberg.net, Ana Monteiro, Michael Gunn
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