Fiscal Developments Report – September 2020

Total Revenue & Grants for the first seven months of 2020 amounted to GH¢27,709.8 million (7.2% of GDP), marginally higher than the revised target of GH¢26,751.8 million (6.9% of GDP). However, this outturn represented a 0.4 percent year-on-year growth, significantly lower than the 12 percent growth recorded in the same period of 2019. During the review period, domestic revenue amounted to GH¢27,383.9 million (7.1% of GDP), higher than the revised target of GH¢26,280.3 million (6.8% of GDP). The revenue performance reflected the downward revision to the revenue estimates as well as strong recovery in the international trade taxes as transitional issues at the ports have been largely resolved.