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 not increasing revenue from the small scale mining sector. Despite reported gains in the sector over the years, the think tank believes the Finance Minister has failed to realize the expected revenue for national development.

Executive Director Dr. Said Boakye noted that even though gold exports from small scale mining have increased, the revenue from the sector remains low. He expressed disappointment that the Mid-Year budget review does not include a strategy to increase revenue from the sector, which is crucial for the economy. Boakye argued that funds from the mining sector could help cover budget shortfalls, especially after value addition to raw materials.

He urged the government to target expenditure on key infrastructure investments to facilitate growth and stressed the need for higher government spending in sectors where revenue inflow is lacking. The underspending in the first half of 2026, relative to the budget plan, undermined the budget's credibility and hindered the country's growth and development.