IFS criticizes gov’t for not increasing revenue from small scale mining sector
The Institute for Fiscal Studies, (IFS) has criticized the Minister of Finance, Dr. Cassiel Ato Forson for failing to capture more revenues from the small scale mining sector, despite the reported gains over the years. In its analysis of the 2026 Mid-Year Budget review, the policy think tank said the Finance Minister failed to realise […]
The Institute for Fiscal Studies has expressed disappointment with the Minister of Finance for not increasing revenue from the small scale mining sector. Despite increases in gold exports from this sector, revenue generated has been low, according to data from the Bank of Ghana. The think tank's Executive Director, Dr. Said Boakye, criticized the Mid-Year Budget review for failing to outline a strategy to boost revenue from this crucial industry.
Boakye argued that funds from the mining sector could help address budget shortfalls, particularly after processing raw materials. He emphasized the disappointment in the Finance Minister for missing this opportunity, especially at a critical time for the economy. Boakye recommended allocating government spending towards key infrastructure investments to stimulate economic growth.
He noted that government expenditure in 2026 was lower than targeted, which undermined the budget's credibility and affected growth and development plans. Boakye stressed the importance of fully implementing approved expenditures for the country's benefit.
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