In 2023, the Customs and Excise Division achieved a remarkable milestone by generating revenues of 403 million dollars, which is a historic achievement for the country as it is the first time that the revenue surpassed the 400-million-dollar threshold.
This impressive growth of 5.5% in revenue compared to the previous year’s revenue of 382 million dollars is worth noting, especially when we consider that the highest revenue recorded before this was 390 million dollars in 2019.
The exceptional performance of the Customs and Excise Division is a clear indication of the country’s flourishing economic activity. Furthermore, the economy has made a remarkable recovery following the significant downturn caused by the COVID-19 pandemic.
The increase in revenue generated by the Customs and Excise Division is a bright spot, signaling that the country’s economy is getting back on track.
5.5% increase with 8.5% real GDP growth and about 5% inflation rate is below par performance. It is apparent that there is leakage of revenue at customs. What are the plans to arrest this?