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    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

    Govt strikes deal with Insurance Association on debt exchange programme

    We must invest in crucial infrastructure to accelerate AfCFTA’s success– Bawumia to African Leaders

    NCCE Chairperson pays courtesy call on BoG Governor

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Accra never sleeps, neither does The Cosmopolitan …The Cosmopolitan now runs 24/7 [ARTICLE]

    Tax on agro inputs a threat to agribusiness and food security – Analysts

    Completely exempt individuals from DDEP over GAB agreement – Senyo Hosi to govt

    Assin State College receives Dano “Inner Strength” Award

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    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

    Registrar of Companies increases fee for business registration

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    Telcos to implement 1% E-Levy charge from today

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    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

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    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

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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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