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    Gold exports push Ghana’s trade surplus to $1.3 billion in April

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    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

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    Gold exports push Ghana’s trade surplus to $1.3 billion in April

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    Gov’t expenditure needs to be checked to help deal with inflation – ICAG

    Take control of financing on the continent – Ofori-Atta to AfDB

    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

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    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

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    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

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Government will not overspend this year – Dr. Kwesi Botchway

bycitibusinessnews
November 12, 2016
in Banking And Finance, Government
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The National Development Planning Commission (NDPC), has downplayed fears government will overspend this year because it is an election year.

Chairman of the Commission, Dr Kwesi Botchway, believes government will stay within approved expenditure levels partly due to Ghana’s current commitment with the IMF program.

“We have a program that we are running with the International Monetary Fund and there are structures under this program; there is a budget, there are expenditure profiles that have been all agreed and the President has committed himself not to breach this understanding. The President has committed himself to ensure that there is no expenditure over run in this election year. So far, I have seen no evidence suggesting that this promise would not be met,” he opined.

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Available statistics indicate that Ghana’s successive governments always over-run the country’s budget during election years.

Ghana’s budget deficit for 2008 which was an election year hit 24.2 percent of gross domestic product as compared to the 8.5 percent in 2007 which was not an election year.

While in 2012, another election year, Ghana’s budget deficit was a whopping 8.7 billion cedis amounting to 12.1 percent of Gross Domestic Product (GDP).

But Dr. Botchway who was a Minister of Finance under the Rawlings regime tells Citi Business News he is confident government this time round will not overspend.

“It will be a great thing if we avoid an expenditure bench in this election year because we pay dearly for it after the election. So I have seen no sign of an expenditure bench, on the contrary I have seen a commitment to not over spent in this election.”

Meanwhile recent figures released by the Finance Ministry has also shown that government’s capital expenditure increased than projected between January and July this year.

This notwithstanding, the expenditure for the period, 23.28 billion cedis, was within government’s target of 23.88 billion cedis.

–

By: Kojo Agyeman/citibusinessnews.com/Ghana

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