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    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

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    Dr. Ampabeng advocates consolidation of road taxes into fiscal policy

    WAPCo commits to cleaner and reliable energy

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    IIPGH to enter coding education partnership with Telecoms Chamber

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

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

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Seth Tekper to give update on state of the economy

bycitibusinessnews
September 3, 2015
in Business, Local Economy, Top Stories
Seth Tekper, Finance Minister

Seth Tekper, Finance Minister

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The Finance minister, Seth Terkper will this morning brief the media on the current state of the economy following various developments on the international front.

[contextly_sidebar id=”f3LBHoDybiuSTBxBF01FTmc26b8VPZUp”]There are numerous developments, especially economic ongoing on the international front specifically in China, Iran, US and the European Union among others which most African countries including Ghana are not immune to.

The continuous drop of the price of crude on the world market for example following Iran’s recent nuclear deal with the US is expected to affect Ghana’s oil revenue.

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Crude oil is currently trading below 40 dollars a barrel and this figure is expected to drop further as the gradual end to sanctions foreseen under the deal will allow Iran, which has the world’s third-largest oil and gas reserves, adding to world oil supplies at a time when the market is already massively oversupplied.

Finance minister Seth Tekper was forced to review downwards revenue projection from oil  this year following the drop in its price on the global market.

Current developments in China are also expected to affect Ghana significantly.

China, the world’s second biggest economy has not been doing too well this month August, 2015.

Economic growth has slowed down, it’s markets have slumped and the currency has also seen significant devaluation, among others.

Developments in China are expected to affect Ghana’s oil and gold revenue as well as the cedi and Ghana’s imports.

Seth Tekper is expected to touch on developments in China and its impact on China.

Meanwhile Seth Tekper will also brief the press on  the progress made so far by the government, two months after he presented to Parliament, the mid-year-budget-review.

The finance minister is also expected to touch on   preparations towards the 2016 budget and the issuance of Ghana’s fourth Eurobond among others.

–

By:  Vivian Kai Lokko/citifmonline.com/Ghana

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