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    Ghana’s inflation rate rises again; hits 31.7% in July 2022

    Fitch downgrades Ghana’s credit rating from B- to CCC

    Ghana Mines Workers’ Union threatens industrial action

    Farmerline begins ‘Support a Farmer’ initiative to provide fertilizer to farmers

    Ghana likely to secure US$3 billion from IMF for economic support

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    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

    GIPC and GSE sign MoU to attract more investment into Ghana

    Appolonia City unveils its first commercial building; Adumuah Place

    Dr. Ampabeng advocates consolidation of road taxes into fiscal policy

    WAPCo commits to cleaner and reliable energy

    Government eyeing GH¢750m with new E-VAT policy

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    National AfCFTA Policy Framework and Action Plan launched to boost trade

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    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

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Fiscal imbalance in economy must be addressed – Dr Gatsi

bycitibusinessnews
January 20, 2015
in Local Economy, News, Top Stories
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Economist, Dr John Gatsi is charging managers of the economy to critically address the fiscal imbalances within the economy in a bid to portray a good outlook for debt sustainability.

Dr Gatsi’s comments come in the wake of the International Monetary Fund (IMF) lowering its forecast for global economic growth this year and have called on advanced economies to maintain accommodative monetary policies.

In an interview with Citi Business News, Dr Gatsi said imbalances with revenue mobilization and trade must drive efforts to improve the current debt sustainability ration in the country.

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“GRA has indicated it wants to increase revenue mobilization; imbalance in terms of our expenditure and the revenue that we collect and in our case the revenue is available just that we are not putting in the mechanism to collect them effectively,’’ Dr Gatsi noted.

The International Monetary Fund (IMF) in its latest World Economic Outlook Report lowered its forecast by 0.3 percentage points for this year and 2016.

It has also projected global growth at 3.5percent for 2015 and 3.7percent for 2016 Speaking further on the matter, Dr Gatsi was of the view that current account deficit in terms of trade must be closed through various policies through the Finance Ministry’s point of view, the Trade Ministry and the general performance of agriculture in the country.

He added that the imbalances must inform decisions by managers of the economy this year; ‘’The IMF outlook is for the global economy, it’s an average therefore our specific situation should drive our efforts’’

 

By: Lorrencia Nkrumah/citifmonline.com/Ghana

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