Tax Revenue Declined Due To Fall In Crude Oil Prices - Mona Quartey

A Deputy Finance Minister, Mona Quartey says though tax revenue increased in 2014, in tax revenue declined due to the fall in crude oil prices on the international market.

Speaking on GBC's Current Affairs Programme, “Talking Point”, on Sunday which discussed the mid-year review of the 2014 budget, Mrs Quartey said apart from the ministry going to Parliament to explain how it is managing the country's economy, the visit by the Finance Minister Seth Terkper was to ask for more money to manage the economy effectively.

MP for Old Tafo and Former Minister of State for Finance, Anthony Akoto Osei said targets that were presented by the Finance Minister in the 2014 budget in December last year have all been revised.

He said from the analysis of the mid-year review, it can be said that nothing has been achieved and this makes the economic situation even worse.

For his part, a Senior Lecturer at the Department of Economics at the University of Ghana, Dr Eric Osei Asibey, said targets that government set in the 2014 budget were over ambitious and unrealistic.

He is therefore not surprised that most of them were not met.

GBC