Dr. Cassiel Ato Forson, the minister of finance, has given the Ghana Revenue Authority (GRA) and the Controller and Accountant-General’s Department leadership the responsibility of working hard to reach and beyond revenue and fiscal goals.

NATIONAL GROWTH DURING A DISCUSSION

Dr. Forson emphasized the importance of fiscal restraint in promoting national growth during a discussion with these important entities that fall under his purview.
In order to create a lasting legacy of financial stability for the nation, he urged the officials to carry out their responsibilities with a dedication to excellence.

REDUCING GHANA’S INFLATION

Reducing Ghana’s inflation rate to single digits, with an 8% target, is one of his main goals.

Dr. Forson plans to do this by implementing sound fiscal policies, especially by limiting government spending.
In addition, as part of his fiscal measures to do away with the E-Levy and the betting tax, he has set a target to raise tax collection from 13.8% of GDP to about 16.8%.
He emphasized the GRA’s vital role in accomplishing the country’s economic objectives and urged cooperation to enhance income collection and administration procedures.

According to the government, improving public financial management and guaranteeing sustainable economic growth are its top priorities.

 FAQs

1. What is the role of Dr. Cassiel Ato Forson in the Ghanaian government?

A) Minister of Finance ✔

B) Minister of Trade 

C) Minister of Education 

D) Minister of Health 

E) Minister of Agriculture 

2. Which two departments has Dr. Forson assigned the responsibility of reaching revenue and fiscal goals?

A) Ghana Revenue Authority and Ministry of Education 

B) Ghana Revenue Authority and Controller and Accountant-General’s Department ✔

C) Ministry of Finance and Ministry of Trade 

D) Controller and Accountant-General’s Department and Ministry of Health 

E) Ghana Revenue Authority and Ministry of Agriculture 

3. What is one of Dr. Forson’s main economic goals for Ghana?

A) Eliminating all taxes 

B) Reducing the inflation rate to single digits ✔

C) Increasing government spending 

D) Increasing E-Levy and betting tax 

E) Reducing tax collection to 10% of GDP 

4. What target inflation rate has Dr. Forson set for Ghana?

A) 8% ✔

B) 12% 

C) 7% 

D) 5% 

E) 10% 

5. How does Dr. Forson plan to reduce the inflation rate?

A) By outsourcing government services 

B) By increasing government spending 

C) By reducing taxes 

D) By implementing sound fiscal policies and limiting government spending ✔

E) By increasing taxes