Revenue Boom! Ghana Pulls GH¢154.9bn in 9 Months — 22.8% Surge Year-on-Year
According to Ghana’s Finance Minister Dr. Cassiel Ato Forson, the nation raised GH¢154.9 billion in grants and total income in the first three quarters of 2025, or 11.1% of GDP. This was a 22.8% year-over-year gain, indicating a stable recovery and better mobilization of domestic resources, even if it was 4.7% less than the objective of GH¢162.6 billion. Despite poor performance in PAYE, VAT, corporation tax, and import duties, non-oil tax income increased by 32.8% to GH¢122.1 billion. Meanwhile, the Ghana income Authority’s enhanced compliance allowed GETFund Levy and NHIL to surpass their expectations by 16% and 16.6%, respectively. With GH¢19.4 billion, or around 38.5% more than the objective, non-tax revenues again exceeded expectations, mostly due to fees, dividends, and remittances from state-owned businesses. Due to reduced prices and output, oil and gas revenues dropped 52.2% to GH¢5.9 billion, while grants fared poorly, coming in at GH¢963 million instead of the GH¢1.9 billion forecast. Dr. Forson underlined that these findings demonstrate Ghana’s growing revenue base and the start of the implementation of reforms in digitalization, enforcement, and compliance. He emphasized that the government’s current priorities are to consolidate these gains, increase the effectiveness of tax collection, and expand the tax base in a way that is equitable and conducive to development.
